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Article: India : Hindalco Q2 profit slips over 50 per cent at Rs 344 crore.(Financial report)
- Article from:
- TendersInfo
- Article date:
- November 2, 2009
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Byline: sanjayV03
Leading aluminium-maker and Aditya Birla group company, Hindalco Industries, has registered a lower net profit at Rs 344-crore in Q2 FY 10, down over 50 per cent as compared to the year-ago figure, on lower metal prices.
The company posted a net profit of Rs 720 crore in Q2 FY 09.
"Due to change in accounting standards of the company the figures of the previous quarter are not comparable with that of the quarter ended September 30, 2009," Hindalco Industries said in a statement.
Net sales and operating revenue were lower at Rs 4,917- crore in Q2 FY 10 due to subdued commodity prices. The steep reduction in ...