Hindalco Industries Ltd registered a 44 per cent rise
in net profit and 24 per cent rise in sales for the
company reported a Rs 838.9-crore profit after tax compared
to Rs 582.1 crore the previous year. Net sales moved
up to Rs 6,190.0 crore during 2003-04 from Rs 4,985.6
crore . Higher volumes and improved realisations contributed
to the sales growth on the back of improving product
mix and a higher value addition.
margins improved but low profitability in copper proved
a drag on Hindalco''s numbers, said Debu Bhattacharya,
managing director of the company.
in copper was affected due to three factors - weak treatment
charges/refining charges; appreciating rupee and tariff
reductions. Besides, demand for copper from the jelly-filled
telecom cable sector completely dried up as demand for
wireless and optical fibre cable picked up, he said.
board has recommended a dividend of Rs 16.50 per equity
share taking the total outgo on account of dividend
payments to Rs 172 crore.