Hindalco Industries on Tuesday reported 28.62 percent dip in consolidated net profit for the July-September quarter at Rs 359 crore on costlier raw materials.
The Aditya Birla Group flagship company, which is mainly into production of copper and aluminium, had clocked Rs 503 crore net profit in the same quarter last fiscal.
Higher cost of inputs not only impacted the bottomline of the company during the reporting quarter, it might tell upon the balance sheet of the company in the near future as well, it said in a statement.
“The general slowdown coupled with the stubbornly high cost of inputs may impact the business results of the company in the near future,” Hindalco said.
Higher outgo on raw material impacted the earnings before interest, taxes, depreciation and amortisation (EBIDTA) of the company to Rs 515 crore during the reporting quarter from Rs 660 crore a year earlier.
Revenue of the company also dipped to Rs 6,164 crore from Rs 6,272 crore a year earlier. Aluminium contributed Rs 2,105 crore to the revenue and the rest came from copper business.
Hindalco had produced 1.28 lakh tonnes of aluminium and 78,000 tonnes of copper during the quarter.
Lower finance costs and tax expenses at Rs 28 crore and Rs 88 crore, against Rs 68 crore and Rs 101 crore respectively from a year earlier, failed to spruce up the bottomline.
“Finance costs are lower for the quarter ended September 30, 2012 due to repayment of a loan carrying high interest rates,” Hindalco said.
Shares of Hindalco closed down 1.87 percent at Rs 112.55 apiece on the BSE.
PTI