Hindalco Q3 profit plunges 34% on higher input costs

Aluminium producer Hindalco Industries Ltd posted a 34.4% drop in thirdquarter profit on Tuesday, hurt by increase in input costs, mainly of coal and furnace oil. Stand-alone net profit after tax was ₹247 crore in the quarter ended December 31, compared with ₹377 crore a year ago, the Mumbai-headquartered company said. The profit figure lagged analysts’ estimate of a profit of ₹407 crore, according to Refinitiv Eikon data. Revenue from operations rose 8% to ₹11,938 crore, the company, which produces and sells aluminium and copper products, added.

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