Hindalco Q2 net profits marginally down
LME aluminum prices ruling at 30-month low
Aditya Birla flagship Hindalco Industries reported a net profit of Rs 1.671 bn for Q2 ended 30th September 2001, marginally lower than the Rs 1.678 bn posted in the same quarter last year. The lower profits have been mainly due to falling aluminum prices on LMR, which is at $1284 per tonne – a 30-month low. The sales grew to Rs 5.57 bn compared to Rs 5.51 bn in the same period last year. For the half-year, Hindalco posted a lower net profit of Rs 3.28bn as compared to Rs 3.31 bn last year. Meanwhile Hindalco is going ahead with the brown field expansion at the existing plant at Renukoot in Uttar Pradesh. It has completed commissioning of a new potline with a capacity of 33,000 tonnes of aluminum metal in September 2001 under the expansion programme.
