New Delhi: Hindalco Industries on Wednesday reported a 37% fall in its consolidated net profit to ₹2,411 crore for the March quarter due to a rise in operational costs.The company had posted a net profit of ₹3,860 crore during the January-March quarter of 2021-22, the company said in a regulatory filing.Total income of the company was ₹56,209 crore in the quarter under review against ₹56,057 crore in the year-ago quarter.The expenses were higher at ₹53,372 crore against ₹51,026 crore a year ago due to a rise in power and fuel charges, employee benefit expenses and inventory costs.The company’s Managing Director (MD) Satish Pai in a statement said, “Our copper business delivered exceptional results recording its highest-ever EBITDA, driven by robust market demand, stable operations and higher value-added product sales.”We also continue to drive our holistic ESG approach with specific targets that go beyond carbon emissions, and encompass other planet-critical aspects like waste, biodiversity, water positivity, and community inclusion.”He further said Novelis has shown quarter-on-quarter recovery supported by improved product pricing and favourable product mix. Novelis, Hindalo’s Atlanta-based subsidiary, reported a 7% year-on-year (y-o-y) fall in its net income at $175 million during the quarter, the company statement said. “Its total shipments of flat rolled products were at 936 kt (kilo tonne) in Q4 FY23 vs 987 kt in Q4 FY22, down 5% y-o-y, and up 3% q-o-q supported by higher aerospace and record automotive shipments in Q4. PTI