15 AUGUST 2011alu
Hindalco First-Quarter Profit Rises 21% on Aluminum Prices
Edited by : AL CIRCLE
1 min read
Hindalco Industries Ltd. (HNDL), India’s largest aluminum maker, said fiscal first-quarter profit gained 21 percent, beating estimates, on higher prices.
Net income climbed to 6.44 billion rupees ($142 million) in the three months ended June 30 from 5.34 billion rupees a year earlier, the company said today in a statement.
Hindalco, controlled by billionaire Kumar Mangalam Birla, benefited from higher prices of aluminum and copper as economic growth in China and India fueled demand for homes, appliances and automobiles.
Net income climbed to 6.44 billion rupees ($142 million) in the three months ended June 30 from 5.34 billion rupees a year earlier, the company said today in a statement.
Hindalco, controlled by billionaire Kumar Mangalam Birla, benefited from higher prices of aluminum and copper as economic growth in China and India fueled demand for homes, appliances and automobiles.
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