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Hindalco Industries fourth-quarter profit dives 25 percent, lags estimate

Reuters 2018-05-16 14:03:20

(Reuters) - Aluminium producer Hindalco Industries Ltd posted a 25 percent fall in its fourth-quarter profit, widely missing street estimate.

A Rupee note is seen in this illustration photo June 1, 2017. REUTERS/Thomas White/Illustration

The company's profit dropped to 3.77 billion rupees ($55.59 million) in the three months through March 31, from 5.03 billion rupees a year earlier, the company said in statement

Analysts on average expected the company to post a profit of 4.67 billion rupees, Thomson Reuters Eikon data showed.

Revenue from operations for the company, which also manufactures copper products and fertilisers, slipped about 0.6 percent to 116.81 billion rupees.

($1 = 67.8150 Indian rupees)

Reporting by Krishna V Kurup in Bengaluru, Editing by Sherry Jacob-Phillips