Hindalco’s First Quarter Profit Jumps Five Fold as Costs Decline

  • Company says macroeconomic headwinds still persist globally
  • Indian metal producer to focus on cutting debt over 3 years

Indian billionaire Kumar Mangalam Birla-owned Hindalco Industries Ltd. reported an almost five fold increase in first-quarter profit, aided by lower costs and higher production of aluminum used in everything from beer cans to cars. The company’s shares surged in Mumbai.

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