Hindalco Q1 net rises 11.21 per cent to Rs534.4 crore

Aditya Birla Group company Hindalco Industries has posted an 11.21 per cent rise in its fiscal first quarter (April-June 20010-11) net profit at Rs534.4 crore against Rs480.56 crore during the quarter ended 30 June 2009.

Total income of the company during the quarter ended 30 June 2010 also increased to Rs5,247.17 crore from Rs3,972.22 crore in the quarter ended 30 June 2009.

Profit before tax was up 12 per cent year-on-year at Rs673 crore compared with Rs600 crore in the first half of the previous year.

The company reported a 33-per cent rise in net sales at Rs5,178 crore in the first quarter of the current financial year, driven by higher volumes, better product as well as geographic mix and higher international prices.

Other income and interest/ financing charges were constrained by lower returns on investment and lower average interest rate respectively.

The integration of captive coal and power generation unit at the Hirakud smelter has helped cushion the adverse impact of high prices of crude and crude derivatives, Hindalco said.