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Hindalco Industries fourth-quarter profit rises 26 percent, tops estimates
May 30, 2017 / 9:36 AM / in 5 months

Hindalco Industries fourth-quarter profit rises 26 percent, tops estimates

REUTERS - Hindalco Industries Ltd (HALC.NS), India’s biggest producer of aluminium and copper, posted a 26 percent rise in fourth-quarter profit as revenue from operations increased on higher base metal prices.

Profit rose to 5.03 billion rupees ($77.82 million) in the quarter ended March 31, from 4 billion rupees a year earlier, Hindalco said on Tuesday. bit.ly/2sguhgw

Analysts on average had expected the company, majority owned by the Aditya Birla Group, to post a profit of 4.49 billion rupees, according to Thomson Reuters data.

Revenue from operations rose about 27 percent to 117.47 billion rupees.

Shares of the company were up 1.5 percent as of 0930 GMT.

($1 = 64.6325 Indian rupees)

Reporting by Tanvi Mehta in Bengaluru; Editing by Subhranshu Sahu

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