Earnings of Alcoa went up in the second quarter. The credit for increased earnings can be given to the rising demand from the aerospace and car sectors that balanced the impact of lower aluminum prices.

The New York-based aluminum giant said last night that the net income for the quarter ending June 30 was $140m, up from $138m, the same time last year.

Company's sales for the three month period rose 1% to $5.90 billion. Alcoa cited higher profits from its global rolled products business, which delivers sheet and plates for the aerospace, automotive and other sectors.

Company's operating incomes also increased in its engineering products division. This division of the company produces aluminum structural systems and fasteners for many of the same industries.

Better performance of the company helped counterbalance the impact caused by $143m in restructuring charges, which includes moves to close older smelters. It was found that earnings of the company were hit by a 4.8% drop in aluminum prices compared to last year.

Chief executive officer Klaus Kleinfeld, said, "We continue to transform Alcoa. Our portfolio reshaping combined with smart investments in growth markets is delivering strong results".

Alcoa stayed with its forecast for overall aluminum demand growth of 6.5% in 2015, but it reduced its outlook for some industries.

Now, as per company's estimate, it sees a growth of 8-9% in 2015 in aerospace sector, down from the previous 9-10% growth. It also sees a higher growth in 2016 and 2017 due to a slower ramp-up of plane manufacturing at some clients.