Slump in Hindalco’s net profit

Hindalco Industries has reported a lower net profit of Rs. 2,456 crore for the year ended March 31,2011 against Rs.3,925 crore. According to a release, net sales and other income has increased to Rs. 72,078 crore from Rs. 60,708 crore.

The company has declared a dividend of Rs. 1.50 per share against Rs. 1.35 per share in2009-10.

Of the total annual revenue of Rs.72,078 crore, aluminium business contributed Rs. 56,084 crore (a growth of 17 per cent over the previous year). In the copper business revenue is higher by 26 per cent at Rs. 15,87 crore against Rs.12,573 crore. The copper mines in Australia contributed significantly to the gross profit on the back of higher LME, despite a surge in input costs.