Hindalco's net profit surges 146 per cent

Aditya Birla group company Hindalco Industries Ltd's net profit surged 146 percent to 664 crore for the quarter ended March, on a robust net sales growth of 43 per cent at Rs5,404 crore over the same period last year.

The good performance stems from better efficiencies, better geographic and product mix, higher prices for aluminium and copper which offset the adverse impact of the rupee appreciation, higher coal cost and lower by-product credit, said the company in a statement.

The aluminium business contributed Rs.2,045 crore with an EBIT of Rs.614 crore while in the copper business, revenues was up 52 per cent at Rs3,361 crore with an EBIT of Rs127.

Global aluminium consumption increased sharply by 27 per cent in Q4FY10 vis--vis Q4FY09 with increased consumption from China.

The company's demand was from South America and Asia and in some sectors in the US and Europe.

The company projects world aluminium consumption to grow at around 9 per cent in 2010.