hindalco industries ltd (HNDL) Snapshot

The Blackstone Group L.P. (NYSE:BX) and Glencore Xstrata plc (LSE:GLEN) are eying 59% stake in Iron Ore Company of Canada Inc. (IOC) of Rio Tinto plc (LSE:RIO), according to people familiar with the matter. A first round of bids has been submitted for the stake, which Rio Tinto put up for sale earlier in 2013, according to some of the people. The other potential bidders include Vedanta Resources plc (LSE:VED) and Hindalco Industries Ltd. (BSE:500440), according to people familiar with the matter.

Hindalco Industries Ltd. has announced that the Board of Directors of the company at its meeting held on May 28, 2013 has recommended the payment of Dividend on Equity Shares of the company for the Financial Year commencing on April 01, 2012 up to March 31, 2013, to the Equity Shareholders at INR 1.40 per Equity Share of the face value of INR 1 per each. That is 140% per share subject to shareholders and other approvals.

Hindalco Industries Ltd. reported unaudited standalone earnings results for the fourth quarter and full year and consolidated earnings results for the full year ended March 31, 2013. For the quarter, on standalone basis, the company reported net sales of INR 69,155.9 million compared to INR 75,633.3 million a year ago. Profit from operations before other income and finance costs was INR 4,706.1 million compared to INR 6,990.0 million a year ago. Profit before tax was INR 5,441.5 million compared to INR 7,794.4 million a year ago. Net profit for the period was INR 4,820.3 million or INR 2.52 per diluted share compared to INR 6,399.9 million or INR 3.34 per diluted share a year ago. For the full year, on standalone basis, the company reported net sales of INR 257,843.1 million compared to INR 263,530.6 million a year ago. Profit from operations before other income and finance costs was INR 14,995.2 million compared to INR 24,147.9 million a year ago. Profit before tax was INR 20,466.3 million compared to INR 27,369.5 million a year ago. Net profit for the period was INR 16,992.0 million or INR 8.87 per diluted share compared to INR 22,372.0 million or INR 11.68 per diluted share a year ago. For the full year, on consolidated basis, the company reported net sales of INR 797,055.1 million compared to INR 803,930.1 million a year ago. Profit from operations before other income and finance costs was INR 49,756.8 million compared to INR 53,198.5 million a year ago. Profit before tax was INR 39,088.0 million compared to INR 43,449.4 million a year ago. Net profit for the period was INR 30,268.9 million or INR 15.81 per diluted share compared to INR 33,969.5 million or INR 17.74 per diluted share a year ago.