Hindalco, the world’s largest aluminium rolling company, reported a muted set of numbers for the quarter ended September. Revenues and profit stayed flat compared to last year, though volumes were higher.
Hindalco is the latest company to see stagnant profit growth despite higher metal volumes in the second quarter. Hindalco's net profit remained flat year-on-year at Rs 357 crore during the second quarter of the current fiscal.
The prime minister received a letter dated May 7, 2005, from Kumar Mangalam Birla requesting allocation of Talabira-II coal block in Odisha to Hindalco for its 650 Mw captive power plant in its Integrated Aluminium Project in Sambalpur, Odisha and for a
Former Coal Secretary P C Parakh, who has been charged with alleged irregularities in the allotment of coal mine to Aditya Birla Group, today said he had on files given full reasons for preferring Hindalco over a PSU for allocation of the coal block.
Aditya Birla Group firm Hindalco is unlikely to get tapering coal linkage for its captive power plant in Odisha with the Coal Ministry conveying to the firm that state-owned CIL does not have sufficient fuel.
Hindalco group company, Utkal Alumina International Limited (UAIL), which started alumina production from its plant in south Odisha about four months ago, is unable to transport the material to its end use plants pending permission from the railway
Aditya Birla Group firm Hindalco Industries Ltd has sought more time from the government to set up aluminium and aluminium products special economic zone (SEZ) in Odisha as it is facing problems in land acquisition.
Hindalco Industries is trading higher by 3% at Rs 95.90 in morning trades on reports that the promoter of the company will increase its stake in the company by converting preferential warrants into equity shares.
Hindalco Industries Ltd’s aluminium business is expectd to witness challenges in the near-term on the back of weak prices of the metal in the global market, Chairman Kumar Mangalam Birla said in the 2012-13 (Apr-Mar) annual report.
Despite a weak top line, Hindalco Industries posted a net profit of Rs 474 crore in April-June, up from Rs 425 crore in the corresponding period last year, mainly because of rise in the company’s other income.