Hindalco net profit rises by 11% to Rs 534 crore

Hindalco net profit rises by 11% to Rs 534 croreHindalco Industries has announced its first quarter financial results for the fiscal year 2010-11. Hindalco Industries is the flagship company of the Aditya Birla Group.

According to the report, the firm has managed to register a significant 11% rise in the net profit figure in the rise. Hindalco Industries has informed that it has posted a net profit of Rs 534 crore for the first quarter that ended in 30th June, 2010.

For the similar quarter in the previous year, the company has posted a net profit of Rs481 crore. The company has informed this in a filing at the Bombay Stock Exchange. So far as the net sales of the company are concerned, it has increased by a mammoth 33% in this Q1 against its last year's corresponding quarter.

The net sales of the company have touched Rs 5,178 crore during the April-June quarter of fiscal year 2010-11.

The total revenue from its aluminium business of the company has been reported to be Rs 1,867 crore. Higher prices on the London Metal Exchange have helped the firm to post an impressive total revenue record.