Hindalco clocks highest ever profit and sales increase

Mumbai, May 4 (UNI) Hindalco, the flagship company of Aditya Birla Group has registered highest ever net profit increase of 15 per cent at Rs 721.3 crore in the quarter ended March 31, 2007, against Rs 626.3 crore in the corresponding quarter of last fiscal.

The net sales of the company for the same period grew by 30 per cent at Rs 4,748.9 crore against Rs 3,657.4 crore in the Corresponding quarter of last fiscal.

Speaking to mediapersons, the MD of the company Debu Bhattacharya said '' The over all financial performances of the company in FY 2006-07 also have been extremely impressive. Higher Capacity utilization increased realization and strengthening of operational efficiencies resulted in both revenues and profits surpassing their previous levels.'' In this fiscal, the consolidated revenues reflected a growth of 61 per cent at Rs 18,313 crore. The EBIDTA crossed the USD 1 bn mark for the first time ever at Rs 4,385.1 crore. In the same period the net profit grew by 55 per cent at Rs 2,564.3 crore.

The Aluminium business revenues of the company increased by 21.5 per cent at Rs 7,344.4 crore against Rs 6,042.3 crore in the last financial year. Copper business revenues doubled to Rs 10,977.6 crore from Rs 5354.2 crore.

Despite lower Alumina price in the international market, the company has been able to maintain a good realisation, largely because of its focus on Speciality business as well as a prudent mix of forward contracts and spot sales, said Mr Bhattacharya.

UNI