financetom
Business
financetom
/
Business
/
India's Hindalco beats Q2 profit view on higher aluminium prices
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
India's Hindalco beats Q2 profit view on higher aluminium prices
Nov 11, 2024 6:18 AM

Nov 11 (Reuters) - India's Hindalco Industries

, one of the country's largest aluminium and copper

producers, posted a higher-than-expected second-quarter profit

on Monday, helped by higher aluminium prices.

The company, owned by the Aditya Birla Group, said its

consolidated net profit jumped 78% to 39.09 billion rupees

($463.3 million) for the three months ended Sept. 30, beating

estimates.

Analysts, on average, had expected a profit of 34.46 billion

rupees, according to data compiled by LSEG.

($1 = 84.3700 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru; Editing by Sumana

Nandy and Abinaya Vijayaraghavan)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Clean Energy Fuels Open Expanded Renewable Natural Gas Fueling Station in California
Clean Energy Fuels Open Expanded Renewable Natural Gas Fueling Station in California
Nov 25, 2024
10:38 AM EST, 11/25/2024 (MT Newswires) -- Clean Energy Fuels ( CLNE ) said Monday it has opened a newly expanded renewable natural gas fueling station in Carson, California. The company said it will manage all operations and maintenance of the station for 10 years. The station, owned by Los Angeles County Sanitation Districts, is expected to sell the equivalent...
Summit Materials to Be Taken Private by Quikrete in $11.5 Billion Deal
Summit Materials to Be Taken Private by Quikrete in $11.5 Billion Deal
Nov 25, 2024
10:39 AM EST, 11/25/2024 (MT Newswires) -- Summit Materials ( SUM ) said Monday it agreed to be acquired and taken private by packaged concrete manufacturer Quikrete Holdings in a deal with an enterprise value of about $11.5 billion, including debt. Shareholders of Summit will receive $52.50 per share in cash, reflecting a roughly 29% premium to its stock price...
Gladstone Investment Buys Pyrotek Special Effects
Gladstone Investment Buys Pyrotek Special Effects
Nov 25, 2024
10:40 AM EST, 11/25/2024 (MT Newswires) -- Gladstone Investment ( GAIN ) said Monday it has partnered with Scott Dunlop and management to acquire Pyrotek Special Effects, a provider of special effects services for the live entertainment industry. The company said it provided equity and senior secured debt to finalize the deal. Dunlop, Pyrotek's long-time president and chief executive, will...
GCT Semiconductor Partners With European Wireless Telecom Supplier for FWA Technology Development
GCT Semiconductor Partners With European Wireless Telecom Supplier for FWA Technology Development
Nov 25, 2024
10:38 AM EST, 11/25/2024 (MT Newswires) -- GCT Semiconductor ( GCTS ) said Monday it agreed to collaborate with an unnamed European wireless infrastructure and terminal provider to develop fixed wireless access technology. The parties previously signed a memorandum of understanding in August and the fixed wireless access devices will use GCT's 5G products, according to the company. Financial terms...
Copyright 2023-2026 - www.financetom.com All Rights Reserved