Hindalco Industries net profit falls

NEW DELHI: Aditya Birla Group company Hindalco Industries reported a 34.38 per cent decline in standalone net profit to Rs 247.46 crore for the December 2018 quarter due to increased cost of materials consumed. It had clocked a profit of Rs 377.14 crore in the corresponding quarter in the previous fiscal, Hindalco Industries Ltd said in a BSE filing. The aluminium maker's revenue from operations was higher at Rs 11,938 crore as compared with Rs 11,028 crore in the year-ago quarter. The company further said that "cost of materials consumed" were at Rs 7,812 crore, higher from Rs 6,884 crore in October-December 2017.