Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
11,999.1059.0
Stock Analysis, IPO, Mutual Funds, Bonds & More

Hindalco gross profit may slip 48%

EBITDA is set to decrease to around Rs 905.3 crore in July-September from Rs 1,737 crore a year ago

ET Bureau|
Oct 19, 2019, 08.48 AM IST
0Comments
Hindalco-1200
Kolkata: Hindalco is likely to see a 48% year-on-year decline in earnings before interest, tax, depreciation and amortisation (EBITDA) in the quarter to September owing to the twin impact of lower volumes and a fall in aluminium and copper prices on the benchmark London Metal Exchange (LME), said an ICICI Securities research report on the company.

Hindalco’s (standalone with Utkal Alumina), EBITDA is set to decrease to around Rs 905.3 crore in July-September from Rs 1,737 crore a year ago, according to the report.

In its quarterly preview of Hindalco’s standalone results ICICI Securities said the company could see “a 15% quarter on quarter decrease in EBITDA due to a marginal decrease in copper EBITDA and a 22% decrease in aluminium EBITDA”.

It estimated EBITDA during July-September to be around Rs 609.1 crore on standalone basis against Rs 717.4 crore in the year-ago period. LME prices decreased sequentially for both aluminium and copper, and so did volumes, it said.
Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service