The level of imports continues to impact domestic sales volumes," Hindalco said in a statement The drop in net sales was primarily due to lower volumes in the copper business. However, net sales declined by 11 per cent year-on-year to Rs 7,597 crore due to sharp decline in realisations. KOLKATA|MUMBAI: Aluminium major Hindalco has reported a five-fold jump in its quarterly profit from a year ago, helped by operating efficiency and lower costs.For the three months to end-June, net profit increased to 294 crore from 61 crore a year ago, the company said on Friday.The net profit also included one-time gains - forex gains - of 99 crore. Fall in realisation was mainly due to drop in average London Metal Exchange (LME) prices for aluminium and copper, which were lower by 11 per cent and 22 per cent, respectively, compared with Q1FY16.

Source: Economic Times August 12, 2016 22:30 UTC