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Net profit dips 39%

Mumbai, Jan. 24: High input costs and a major power disruption left Hindalco with a dismal third quarter performance in 2002-03. The company’s net profit slipped 39 per cent to Rs 101.1 crore compared with Rs 165.5 crore in 2001-02.

The company's topline also took a hit. Net sales during the quarter fell by close to 10 per cent to Rs 521.5 crore against Rs 577.4 crore in the year-ago period.

Hindalco said that the effects of the power disturbance in September spilled over to the quarter and resulted in a further production loss. Extra costs had to be incurred to normalise the process.

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