Mumbai: Shares of aluminium maker Hindalco today surged over 11 per cent after its standalone net profit more than doubled to Rs 356 crore for the fourth quarter ended March 31, 2015-16. The stock soared 11.37 per cent to Rs 102.30 on BSE. On NSE, it zoomed 11.42 per cent to Rs 102.40.
Hindalco on Saturday said its standalone net profit more than doubled to Rs 356 crore for the January-March quarter helped by growth in sales of value-added products as well as cost efficiencies. The flagship firm of the Aditya Birla Group had clocked a net profit of Rs 160 crore in the year-ago period, it had said in a regulatory filing.
Standalone revenue of the company, however, declined by 7.5 per cent to Rs 8,668 crore in January-March quarter of last fiscal, as against Rs 9,372 crore during the same quarter of 2014-15 due to decline in realisations from aluminium and copper.