Coal news and updates

Hindalco Q2 net dips marginally

November 12: Hindalco Industries Limited (HIL), the flagship company of the Aditya Birla Group, reported a marginal (0.49%) decline in net profit to Rs 357.11 crore in the quarter ended September 2013 compared to Rs 358.88 crore net profit earned during the same period last year, a company release said.

In the previous quarter (Q1 of 2013-14) the company had reported a net profit of Rs 474.09 crore.

The decline in net profit was mainly due to a steep increase in raw material costs and that of fuel and power, the release said. This, however, has been somewhat balanced by a 2.13% increase in net sales to Rs 6,245.56 crore  compared to Rs 6,114.71 crore during the same period last year.

For the first six months (April-September) of 2013-14, the company reported a net profit of Rs 831.20 crore compared to Rs 783.65 crore recorded during the same period in the previous fiscal, registering a growth of 6.06%.

Following are the Q2 results of HIL in 2013-14 and 2012-13 (in Rs crore) (unaudited):