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      Hindalco tumbles after weak Q1 numbers

      MoM Team / Mumbai, Aug 11, 2017 03:10 PM IST

        Hindalco tumbles after weak Q1 numbers

        Hindalco Industries slumped 7.6 percent to Rs 220 on BSE after net profit fell 1.36 percent to Rs 290 crore on 27.55 percent growth in revenue from operations to Rs 10407 crore in Q1 June 2017 over Q1 June 2016.

        The result was announced during market hours today, 11 August 2017.

        Meanwhile, the S&P BSE Sensex was down 302.87 points or 0.96 percent at 31,228.46.

        On the BSE, 14.42 lakh shares were traded on the counter so far as against the average daily volumes of 11.81 lakh shares in the past one quarter. The stock had hit a high of Rs 236.40 and a low of Rs 218.20 so far during the day. The stock had hit a 52-week high of Rs 244.80 on 8 August 2017 and a 52-week low of Rs 138.60 on 11 August 2016.

        The stock had outperformed the market over the past one month till 10 August 2017, advancing 21.45 percent compared with the Sensex's 0.58 percent fall. The stock had also outperformed the market over the past one quarter, gaining 27.1 percent as against the Sensex's 4.24 percent rise. The scrip had also outperformed the market over the past one year, advancing 63.16 percent as against the Sensex's 13.52 percent rise.

        The large-cap company has equity capital of Rs 224.35 crore. Face value per share is Rs 1.

        Hindalco's net profit in Q1 June 2017 factors the exceptional provisioning of Rs 104 crore which is on the basis of recent Supreme Court judgement in a matter relating to mining regulation (to which the company was not a party). Hindalco anticipates that the judgement may have an implication on its existing litigation which is sub-judice. The provision has been made as a matter of abundant caution.

        The company's earnings before interest, taxation, depreciation and amortization (EBITDA) rose 3.92 percent to Rs 1404 crore in Q1 June 2017 over Q1 June 2016, on account of higher aluminium and copper volumes, supportive macros partly offset by higher input cost.

        Hindalco Industries, metals flagship company of the Aditya Birla Group, is the industry leader in aluminium and copper.


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      Source: Capital Market


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