Hindalco Industries’s Q4 net profit up by over 123 percent

Mumbai, May 28 (IANS) Aluminium manufacturer Hindalco Industries on Saturday reported a 123.36 percent increase in its standalone net profit for the fourth quarter of 2015-16.

The company’s Q4 net profit stood at Rs.356.33 crore from Rs.159.53 crore reported in the corresponding quarter of 2014-15.

However, the company’s total income for the quarter under review plunged by 7.6 percent to Rs.8,871.66 crore from Rs.9,601.63 crore.

For the full financial year 2015-16, the company’s standalone net profit declined by 34.36 percent to Rs.607.25 crore from Rs.925.16 crore in 2014-15.

The company’s standalone total income for the year ended March 31, 2016, slipped by 0.07 percent to Rs.35,383.87 crore from Rs.35,407.24 crore in the corresponding previous fiscal.

On a consolidated basis, the company’s net profit for 2015-16, too, decreased by 69.17 percent to Rs.263.32 crore against Rs.854.21 crore reported in 2014-15.

The consolidated total income fell by 3.91 percent to Rs.101,265.07 crore from Rs.105,385.84 crore in the corresponding previous fiscal.

The company’s board of directors recommended a final dividend of Re.1 per share of face value of Re.1 each for the financial year ended March 31, 2016, subject to shareholders approval at the ensuing annual general meeting (AGM).

–IANS

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