11 AUGUST 2014www.indiainfoline.com
Hindalco slides as Novelis' profit lags some estimates
Edited by : AL CIRCLE
2 min read
Hindalco Industries lost 3.83% to INR 182 at 12:01 IST on BSE, after the company's US subsidiary Novelis reported Q1 June 2014 operating profit that lagged some estimates.
Meanwhile, the BSE Sensex was down 247.70 points, or 0.97%, to 25,341.31
On BSE, so far 2.41 lakh shares were traded in the counter, compared with an average volume of 12.53 lakh shares in the past one quarter.
The stock hit a high of INR 187.90 and low of INR 183.30 so far during the day. The stock hit a 52-week high of INR 198.70 on 25 July 2014. The stock hit a 52-week low of INR 83.05 on 7 August 2013.
The stock had outperformed the market over the past one month till 7 August 2014, rising 8.73% compared with 1.96% fall in the Sensex. The scrip also outperformed the market in past one quarter, surging 39.77% as against Sensex's 14.63% rise.
The large-cap company has an equity capital of INR 206.47 crore. Face value per share is INR 1.
Hindalco Industries' US subsidiary Novelis Inc. on Thursday, 7 August 2014 reported net income attributable to its common shareholder of $35 million in Q1 June 2014 compared to $14 million in Q1 June 2013. Excluding certain tax-effected items, net income was $30 million, up 43% compared to Q1 June 2013. Net sales rose 11.62% to $2,680 million in the April-June 2014 period from $2,401 million in the same period a year ago.
Adjusted EBITDA for the first quarter of fiscal 2015 was $235 million, a 15% increase compared to $204 million reported for the prior year. The increase was primarily driven by significantly higher volume, partially offset by pricing pressures in the Asian markets and a higher fixed cost base due to expansions ahead of revenue generation, Novelis said.
Hindalco Industries' net profit declined 48.5% to INR 248.15 crore on 20.9% growth in net sales to INR 8359.85 crore in Q4 March 2014 over Q4 March 2013.
Hindalco Industries is the world's largest aluminium rolling company and one of the biggest producers of primary aluminium in Asia. Its copper smelter is the world's largest custom smelter at a single location.
Meanwhile, the BSE Sensex was down 247.70 points, or 0.97%, to 25,341.31
On BSE, so far 2.41 lakh shares were traded in the counter, compared with an average volume of 12.53 lakh shares in the past one quarter.
The stock hit a high of INR 187.90 and low of INR 183.30 so far during the day. The stock hit a 52-week high of INR 198.70 on 25 July 2014. The stock hit a 52-week low of INR 83.05 on 7 August 2013.
The stock had outperformed the market over the past one month till 7 August 2014, rising 8.73% compared with 1.96% fall in the Sensex. The scrip also outperformed the market in past one quarter, surging 39.77% as against Sensex's 14.63% rise.
The large-cap company has an equity capital of INR 206.47 crore. Face value per share is INR 1.
Hindalco Industries' US subsidiary Novelis Inc. on Thursday, 7 August 2014 reported net income attributable to its common shareholder of $35 million in Q1 June 2014 compared to $14 million in Q1 June 2013. Excluding certain tax-effected items, net income was $30 million, up 43% compared to Q1 June 2013. Net sales rose 11.62% to $2,680 million in the April-June 2014 period from $2,401 million in the same period a year ago.
Adjusted EBITDA for the first quarter of fiscal 2015 was $235 million, a 15% increase compared to $204 million reported for the prior year. The increase was primarily driven by significantly higher volume, partially offset by pricing pressures in the Asian markets and a higher fixed cost base due to expansions ahead of revenue generation, Novelis said.
Hindalco Industries' net profit declined 48.5% to INR 248.15 crore on 20.9% growth in net sales to INR 8359.85 crore in Q4 March 2014 over Q4 March 2013.
Hindalco Industries is the world's largest aluminium rolling company and one of the biggest producers of primary aluminium in Asia. Its copper smelter is the world's largest custom smelter at a single location.
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