Marginal decline in Hindalco's H1 net

By Our Staff Correspondent

MUMBAI, OCT. 30. Hindalco, the flagship company of the Aditya Birla group, has announced a marginally lower net profit of Rs. 328.30 crores for the half year ended September 2001 against Rs. 330.60 crores in the corresponding period of the previous year. Net sales were Rs. 1,106.30 crores against Rs. 1,116 crores. Other income amounted to Rs. 76.40 crores (Rs. 63.60 crores).

The company provided Rs. 20.60 crores (Rs. 32.90 crores) for interest, Rs. 74.40 crores (Rs. 70.70 crores) for depreciation, Rs. 130 crores (Rs. 143 crores) for current tax and Rs. 28.50 crores (Rs. 20.60 crores) for deferred tax.

For the quarter ended September 2001, the net profit was marginally lower at Rs. 167.10 crores (Rs. 161.80 crores) on net sales of Rs. 557.30 crores (Rs. 550.80 crores). Other income amounted to Rs. 43.80 crores (Rs. 32.90 crores). It provided Rs. 10.20 crores (Rs. 16.80 crores) for interest, Rs. 37.50 crores (Rs. 35.40 crores) for depreciation, Rs. 65 crores (Rs. 70 crores) for current tax and Rs 17.40 crores (Rs. 7.60 crores) for deferred tax.

For the quarter, Hindalco's metal production was marginally higher at 62,330 tonnes against 62,222 tonnes. Alumina production at 1.25 lakh tonnes was higher by 6.3 per cent (1.18 lakh tonnes). The output of rolled products was higher at 18,043 tonnes (15,670 tonnes) due to better utilisation of available capacity and an improvement in product mix.

The Renusagar power plant produced 967 million units (972 million units) due to constraints on coal availability because of problems at linked collieries. Foil production was 4,400 tonnes (3,066 tonnes) and the output at the aluminium alloy wheel plant was 7,409 wheels (6,143 wheels).

Indian Rayon

Indian Rayon and Industries, has announced a net profit of Rs. 25.03 crores for the half year ended September 2001 against Rs. 18.93 crores in the same period of the previous year. Sales were up 6 per cent at Rs. 781.15 crores (Rs. 735.66 crores). Other income amounted to Rs. 15.99 crores (Rs. 15.88 crores).

The profit before depreciation, royalty and tax, was Rs. 82.86 crores (Rs. 69.23 crores). The company paid a royalty of Rs. 4.88 crores (Rs. 4.15 crores) to its wholly-owned subsidiary and provided Rs. 36.66 crores (Rs. 35.85 crores) for depreciation and Rs. 16.29 crores (Rs. 10.10 crores) for tax.

For the quarter ended September 2001, the net profit was Rs. 15.12 crores against Rs. 11.38 crores. Sales for the quarter were Rs. 403.84 crores (Rs. 392.28 crores). Other amounted to Rs. 8.60 crores (Rs. 6.75 crores). The profit before depreciation, royalty and tax was higher at Rs. 45.81 crores (Rs. 38.55 crores).

During the quarter, the company produced 3,955 tonnes (3,941 tonnes) of viscose filament yarn (VFY), 22,631 tonnes (24,307 tonnes) of carbon black and 6,266 tonnes (6,686 tonnes) of insulators. The contribution to turnover from the garments division was Rs. 93 crores (Rs. 92.20 crores), VFY Rs. 68 crores (Rs. 52 crores), carbon black Rs. 72.50 crores (Rs. 63.60 crores), insulators Rs. 38.20 crores (Rs. 44.60 crores) and textiles Rs. 73.10 crores (Rs. 87.40 crores).

Indal

Indian Aluminium Company has achieved a net profit of Rs. 59.40 crores for the half year ended September 2001 against Rs. 54.10 crores in the same period of the previous year.

Net sales were higher at Rs. 678.51 crores against Rs. 616.05 crores. Other income was lower at Rs. 1.37 crores (Rs. 3.72 crores). Interest charges claimed Rs. 18.53 crores (Rs. 19.48 crores. The provision for depreciation Rs. 31.76 crores (Rs. 31.47 crores) and taxation Rs. 16.90 crores (Rs. 19 crores).

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