Hindalco first quarter net profit falls 67 percent

A labourer works inside a copper workshop in Siliguri November 26, 2007. REUTERS/Rupak De Chowdhuri/Files·Reuters· (Reuters)
Reuters

MUMBAI (Reuters) - Aluminium and copper producer Hindalco Industries Ltd posted a 67 percent fall in quarterly profit, hurt by lower metal prices and realisations. Net income for the first quarter ended June 30 dropped to 1.07 billion rupees ($16.4 million), from 3.28 billion rupees, a year earlier. Net sales for the quarter rose 7 percent to 85.17 billion rupees. ($1 = 65.1050 rupees) (Reporting by Aman Shah in Mumbai)