Hindalco net up to Rs 167 crore

Our Corporate Bureau

Mumbai, Oct 30: The flagship company of Aditya Birla group, Hindalco has reported a Rs 167.1 crore net profit for the quarter ended September 30, 2001, as compared to Rs 167.8 crore for the corresponding period last year.

Net sales during the period increased marginally by 1.2 per cent to Rs 557.3 crore as compared to Rs 550.8 crore for the same period last year. The company said that higher sales have resulted from the successful marketing of an enriched product mix in the domestic market. With a higher share of value added products, export realisations have grown 4.7 per cent even as volumes have been consciously scaled down considerably.

Metal production during the period at 62,330 metric tonne is marginally higher than that of 62,222 metric tonne attained in the corresponding quarter last year. The company’s smelter is consistently operating in excess capacity. Alumina production at 125,943 metric tonne is higher by 6.3 per cent over that of 118,497 metric tonne in the corresponding period last year.

Output of rolled products at 18,043 metric tonne is significantly higher by 15.1 per cent over the output of 15,670 metric tonne in the comparable quarter last year, largely due to better utilisation of available capacity and an improved product mix.

Extrusion production stood at 4,120 metric tonne as compared to 5,058 metric tonne for the corresponding period last year. The company has said that extrusion production was scaled down consciously in line with the market condition. Production of redraw rods at 13,112 metric tonne mirrors a 23.9 per cent growth over 10,585 metric tonne in the same quarter last year.

Foil production was up by 43.5 per cent at 4,400 metric tonne over 3,066 metric tonne in the corresponding period last year. Production at the aluminum alloy wheel plant for the quarter was up by 21 per cent at 7,409 wheels as compared to 6,143 wheels for the same quarter last year.