Hindalco Q4 net rises 49%, beats forecast

Written by Reuters | Mumbai, April 30: | Updated: Apr 30 2008, 22:30pm hrs
Hindalco Industries Ltd, India's top aluminium producer, on Wednesday reported a 49 percent rise in quarterly net profit, beating forecasts.

Hindalco, part of metals-to-insurance Aditya Birla Group, said net profit rose to 10.77 billion rupees ($266 million) in the fiscal fourth quarter ended March 31, from 7.21 billion a year ago.

Total income rose to 51.54 billion rupees from 48.72 billion.

Analysts polled by Reuters Estimates had forecast a net profit of 6.43 billion rupees on revenue of 50.90 billion.

Indian Aluminium Co Ltd, a subsidiary, was amalgamated with Hindalco with effect from April 1, 2007, and so the figures for the quarter are not strictly comparable to the year-ago period, it said in a statement.