Eleven analysts on an average had expected the Mumbai-based company to report a profit of Rs 307 croreAluminium producer Hindalco Industries Ltd posted a 21.4 per cent decline in September-quarter net profit on Friday, dragged down by rising input costs, but marginally beat estimate.
Standalone profit after tax came in at Rs 309 crore ($42.50 million) in the second quarter, compared with Rs 393 crore a year earlier, Hindalco said.
Eleven analysts on an average had expected the Mumbai-based company to report a profit of Rs 307 crore, according to Refinitiv data.Revenue from operations for the company, which also manufactures copper products and fertilisers, rose about 5 per cent to Rs 10,833 crore.($1 = 72.69 Indian rupees)