New Delhi : Aditya Birla Group firm Hindalco Industries on Wednesday posted a 24.98 per cent decline in its standalone net profit at Rs 376.97 crore for the fourth quarter ended March 31 as against Rs 502.52 crore last year.
Its total standalone income dipped to Rs 11,886.02 crore in the quarter against Rs 11,969.66 crore last year “The company will continue to leverage its core strength in operational and business excellence. In line with its strategy to grow in downstream businesses, the company will focus on quality, customer centricity and use of digital technology to deliver superior shareholder value,” it said.
The company said its new continuous cast rod plant in copper was commissioned in Q4 FY18, while work on Utkal’s brownfield capacity expansion by 500 Kt has commenced. “It is expected to be completed in 30 months with a capital outlay of around Rs 1,300 crore. To enrich its product mix, the company is evaluating investments in aluminium downstream facilities,” it added.