UPDATE 1-India's Hindalco profit surges 85 pct, shares fall

Newswire

(Adds details, share price) MUMBAI, July 28 (Reuters) - India's top aluminium and copper maker, Hindalco Industries Ltd. , reported on Friday a 85.5 percent jump in quarterly net profit on high metal prices, but the below-forecast figure sent its shares down 2 percent. Hindalco said increased alumina production in China posed a risk to aluminium prices as it would lower operating costs for many standalone smelters. Alumina prices have fallen more than 30 percent in the past 3-4 months as ...

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