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Hindalco profit tumbles over 40% to ₹2,454 crore
Business Standard
|August 09, 2023
Hindalco Industries Ltd on Tuesday posted 40 per cent fall in its net profit to ₹2,454 crore for the quarter ended June 30, dragged by lower income.
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It had clocked a net profit of ₹4,119 crore in the April-June period of the preceding 2022-23 financial year, according to an exchange filing.
The company's total income also declined to ₹53,382 crore from ₹58,229 crore in the year-ago period. Expenses were at ₹50,055 crore as against ₹52,185 crore a year ago.
In a separate statement, Satish Pai, managing director of Hindalco Industries, said, "FY24 has started on a promising note. Our focus on expanding our value-added portfolio and operational efficiencies has enabled us to deliver sustained performance in the face of continued macroeconomic pressures."
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