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India's Hindalco beats Q4 profit view as lower costs outpace weak aluminium prices

Reuters

BENGALURU (Reuters) - India's Hindalco Industries, one of the country's largest aluminium and copper producers, reported a higher-than-expected fourth-quarter profit on Friday, as lower costs outpaced lacklustre aluminium prices.

The company, owned by the Aditya Birla Group, said its consolidated net profit rose 31.6% to 31.74 billion rupees ($382.2 mln) for the three months ended March 31, beating analysts' average estimates of 28.01 billion rupees, per LSEG data.

($1 = 83.0546 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru; Editing by Janane Venkatraman)