Hindalco Q3 net rises only 7.5% as finance cost jumps 170%

Mumbai: Aluminium maker Hindalco Industries today reported 7.5 percent rise in net profit for the third quarter at Rs 359.36 crore despite a significant increase in finance costs. [caption id=“attachment_77809” align=“alignleft” width=“380”] Reuters[/caption]The Aditya Birla Group flagship company had reported Rs 333.98 crore net profit during the October-December quarter of the last fiscal, it said in an exchange filing. Net sales of the company rose to Rs 8,471.71 crore in the reporting quarter from Rs 7,200.96 crore a year earlier. While expenses increased to Rs 7,825.96 crore during the quarter from Rs 6,843.41 crore a year earlier, higher finance costs took the sheen away from the company’s bottomline. Finance costs for the company went up to Rs 447.47 crore from Rs 165.16 crore a year ago. Shares of the company were trading 1.47 per cent up at Rs 152.05 apiece during afternoon session on the BSE. PTI