Reuters logo
Novelis profit more than doubles on higher beverage can sales
August 7, 2014 / 10:56 AM / 3 years ago

Novelis profit more than doubles on higher beverage can sales

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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below