Hindalco Q2 net jumps 90.43 pc to 597 cr

Mumbai, Oct 18: Hindalco Industries Ltd has posted a net profit of Rs 597.6 crore for the quarter ended September 30, 2006, as compared to Rs 313.8 crore for the quarter ended September 30, 2005, an increase of 90.43 per cent.

Announcing the results, the company said its total income has increased from Rs 2,752.1 crore for the quarter ended September 30, 2005, to Rs 4,745.0 crore for the quarter ended September 30, 2006.

It has proposed to set up a sector-specific special economic zone in Bargawan village at Sidhi district of Madhya Pradesh. The proposed SEZ (special economic zone) is expected to get an investment of more than Rs 20,000 crore.

Hindalco will invest Rs 18,000 crore and the rest of the investment will come up from downstream projects.

UNI