Despite macro-economic headwinds, Hindalco Industries, on Tuesday announced a 11.8 per cent higher net profit of Rs.475 crore in the first quarter of 2013-14. Lower metal prices during the quarter led to a 3.2 per cent drop in revenue to Rs.5,838 crore but earnings before interest, depreciation and tax was up 3 per cent at Rs.479 crore.
The profit before interest, depreciation and taxation rose 19 per cent to Rs.907 crore largely due to non-recurring income of Rs.103 crore and a dividend of Rs.100 crore from a subsidiary. Finance costs were significantly higher at Rs.149 crore during the quarter under review against Rs.81 crore.
