07 NOVEMBER 2012Moneycontrol.com
Hindalco still optimistic about the aluminium market
Edited by : AL CIRCLE
1 min read
In an interview to CNBC-TV18, D Bhattacharya, managing director of Hindalco says aluminium is kicking in profitability even today. "Aluminium will come back to its old glory. Even today aluminium business in Hindalco is perhaps the best, most profitable in the world. Our endeavour is to come back to the odd levels, which was even higher," he adds.
According to him one of the negative factors to affect the second quarter earnings is that Hindalco had a production loss of 11 percent.
“It was because of grid failure and dyke breach because of the rain in Hirakud. These two factors are behind us. So, I believe that by Q3 itself we should get to that level. I have no doubt of Q4, we will not only catch up, but will improve,” he says.
It was a disappointing second quarter for the world's largest aluminium company Hindalco . It disappointed the street by posting a lower than expected numbers. While net profit dropped by about 29% to Rs 359 crore this quarter, revenues also fell by 1.6 percent to Rs 6,115 crore, year-on-year
“It was because of grid failure and dyke breach because of the rain in Hirakud. These two factors are behind us. So, I believe that by Q3 itself we should get to that level. I have no doubt of Q4, we will not only catch up, but will improve,” he says.
It was a disappointing second quarter for the world's largest aluminium company Hindalco . It disappointed the street by posting a lower than expected numbers. While net profit dropped by about 29% to Rs 359 crore this quarter, revenues also fell by 1.6 percent to Rs 6,115 crore, year-on-year
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