Hindalco Industries' Q2 net profit was down by 78% to Rs 79 crore on account of higher provisioning and rising finance costs.The company has made provision for Rs 563 crore liability towards additional levy of Rs 295 per tonne on coal extracted at its Talabira-I mine in line with the recent Supreme Court order.
Net sales stood at Rs.8,554 crore as compared to Rs. 6,305 crore in the corresponding quarter of the previous year. Profit before Interest, Depreciation and Tax (PBITDA) was Rs. 1,120 crore versus Rs 820 crores in the corresponding quarter of the previous year. Profit before Tax and exceptional items was Rs. 539 crore vis-a-vis Rs. 440 crore attained in the sequential quarter as well as in the corresponding quarter of the previous year.
Net profit impacted by one timers of Rs. 431 crore (net) comprising
· Provision for additional levy on coal as per Hon. Supreme Court order : Rs. 563 crore
· Provision for Diminution in investment value : Rs. 258 Crore
· Foreign exchange gain on Return of Capital : Rs. 361 crore
· Write back of Provision : Rs. 29 crore
Net sales stood at Rs.8,554 crore as compared to Rs. 6,305 crore in the corresponding quarter of the previous year. Profit before Interest, Depreciation and Tax (PBITDA) was Rs. 1,120 crore versus Rs 820 crores in the corresponding quarter of the previous year. Profit before Tax and exceptional items was Rs. 539 crore vis-a-vis Rs. 440 crore attained in the sequential quarter as well as in the corresponding quarter of the previous year.
Net profit impacted by one timers of Rs. 431 crore (net) comprising
· Provision for additional levy on coal as per Hon. Supreme Court order : Rs. 563 crore
· Provision for Diminution in investment value : Rs. 258 Crore
· Foreign exchange gain on Return of Capital : Rs. 361 crore
· Write back of Provision : Rs. 29 crore
Financial Highlights
|
In Rs. Crore
|
Q2FY15
|
Q1FY15
|
Q2FY14
|
H1FY15
|
H1FY14
|
|
Revenue from Operations
|
8,554
|
7,996
|
6,305
|
16,550
|
12,143
|
|
EBITDA
|
897
|
748
|
540
|
1,645
|
1,018
|
|
Other income
|
223
|
216
|
280
|
440
|
708
|
|
PBITDA
|
1,120
|
965
|
820
|
2,085
|
1,726
|
|
Depreciation
|
196
|
187
|
196
|
383
|
379
|
|
Finance Costs
|
386
|
338
|
183
|
723
|
332
|
|
Profit before Exceptional Items and Tax
|
539
|
440
|
440
|
979
|
1,015
|
|
Exceptional Item
|
431
|
-
|
-
|
431
|
-
|
|
Profit after Exceptional Item
|
107
|
440
|
440
|
547
|
1,015
|
|
Tax Expenses
|
29
|
113
|
83
|
141
|
184
|
|
Net profit
|
79
|
328
|
357
|
406
|
831
|
|
Basic EPS (not Annualised)
|
0.38
|
1.59
|
1.85
|
1.97
|
4.32
|
