Novelis profit more than doubles on higher beverage can sales

Thu Aug 7, 2014 6:54am EDT

Aug 7 (Reuters) - Novelis Inc, the world's largest producer of rolled aluminum products, reported a 150 percent jump in quarterly profit, helped by higher sales of beverage cans during the 2014 soccer World Cup in Brazil.

The company, a unit of India's HindalCo Industries Ltd , said net income attributable to common shareholders rose to $35 million in the first quarter ended June 30, from $14 million, a year earlier.

Excluding items, profit rose 43 percent to $30 million.

The company had estimated in July that can sales would top two billion over the four weeks of the World Cup, a 35 percent increase over the same period last year. (Reporting by Ashutosh Pandey in Bangalore; Editing by Savio D'Souza)

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