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Hindalco net down 78%

Hindalco Industries Ltd, 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.

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