Hindalco Industries Limited, one of the India’s largest aluminium and copper manufacturer reported a quarterly profit of Rs. 414 crore to the fiscal year of 2019 which indicates a 43% increase as compared to profit of previous fiscal year 2018, which stood at Rs. 290 crore.
Revenue from the operation including copper and fertilizers reached to Rs 10539.21 crore which resulted in a 8.7% upstream from the Rs. 9770.04 crore in the first quarter of financial year 2018.
Hindalco’s US unit Novelis reported a week earlier an approximate 10% surge in profit levels of first quarter of the current fiscal year to US$ 113 million against a year ago. Hindalco said in a statement that the company is benefiting from “Make In India” program that is driving manufacturing growth and infrastructure spending and boasting the capacity and the demand for copper and aluminium.