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Hindalco reports lower net profit

CHENNAI: Hindalco has reported a 29 per cent rise in its net sales and operating revenues at Rs. 5,315 crore in the quarter ended December 31, 2009, against Rs. 4,117 crore in the year-ago period. The net profit has dropped to Rs. 427 crore from Rs. 545 crore due to lower other income of Rs. 50 crore (Rs. 150 crore) on account of lower treasury corpus post-repayment of the bridge loan taken for acquiring the Novelis, says a release. — Corporate Reporter

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