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Mumbai, June 30 Hindalco Industries Ltd, an Aditya Birla Group company, has reported 78 per cent dip in its consolidated net profit at Rs 485 crore (Rs 2,193 crore) in the year ended March 2009 due to the global economic turmoil and consequent sharp fall in demand and price realisations. Net sales were up 9 per cent at Rs 65,625 crore (Rs 60,013 crore) in FY’09.

The company’s net profit on a standalone basis in the fourth quarter of FY’09 was down 75 per cent at Rs 270 crore against Rs 1,071 crore in the same quarter last year. Sales in Q4 were down 25 per cent at Rs 3,770 crore (Rs 5,000 crore).

The group has a total debt of Rs 28,000 crore, while on a standalone basis the debt was Rs 13,000 crore. About $1 billion comes for repayment in four years, Rs 5,000 crore will be repayed in instalments ending 2014 and the remaining loan has been taken for working capital, said Mr Sunirmal Talukdar, CFO, Hindalco.

The company’s shares on BSE were down two per cent at Rs 86 on Tuesday.

More Stories on : Financial Performance | Aluminium | Hindalco Industries Ltd

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