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Hindalco Industries Q2 profit falls 11 pct, misses estimates
November 3, 2017 / 8:32 AM / a month ago

Hindalco Industries Q2 profit falls 11 pct, misses estimates

Nov 3 (Reuters) - India’s top aluminium producer, Hindalco Industries Ltd, posted an 11 percent fall in second-quarter profit, missing street estimates.

Profit fell to 3.93 billion rupees ($60.82 million) in the three months through Sept. 30, from 4.40 billion rupees a year earlier. bit.ly/2isfgF1

Analysts on average had expected the company to post a profit of 5.26 billion rupees, Thomson Reuters Eikon data showed.

The company incurred a one-time expense of 1.06 billion rupees, it said in a filing on Friday.

However, revenue from operations for the company, which also manufactures copper products and fertilisers, rose about 8 percent to 103.08 billion rupees.

$1 = 64.6125 Indian rupees Reporting by Krishna V Kurup in Bengaluru; Editing by Sunil Nair

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