Hindalco Industries
disappointed the street by reporting lower than expected numbers in
the September quarter. by registering a
29% Yoyo drop in net profit to Rs 359 crore. Revenues also fell by 1.6 percent
to Rs 6,115 crore, Yoyo.
Analysts on an average had estimated net profit of Rs 382
crore on net sales of Rs 6,490 crore for the quarter. Post the earnings
announcement, shares of the company fell 1.5 percent to Rs 113
Earnings before interest, tax, depreciation and amortization
(EBITDA) declined 24.6 percent Yoyo to Rs 466 crore in the quarter while
analysts had expected at Rs 531 crore.
EBITDA margin stood at 7.6 percent which was lower compared
to 9.93 percent in a year ago period
The company, in a filing to the exchanges said that despite the continuing increase in input
costs, Hindalco has put in a robust performance, is indeed commendable. The
successful ramp-up of its smelter post the shutdown in Q1FY13 at its copper
plant also bolstered the results.”
On the outlook, the company said, “The general slowdown
coupled with the stubbornly high cost of inputs may impact results of the Company
in the near future. However, the company would continue to take proactive steps
to extract maximum value from the various drivers of its businesses." It
further said that the company is equally focused on successful implementation
and commissioning of its various greenfield projects.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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