Hindalco hit a new 52-week low today at Rs.65.10 and it continues to hover around the same low levels, down in the red. This red color is thanks to its very poor performance for Q3FY16.

The company posted a massive 89% (YoY) drop in net profit at Rs.40 crore. The only relief here is that as against expectations of a loss, at least the company did not fall into the red. But this is managed to do so only because it saved costs. EBITDA was at Rs.922 crore, down 18%. Other income also helped keep its bottomline glued to the green.

Net sales for the quarter came in at Rs.8021 crore, down 5%. This poor show can be blamed on the sharp decline in prices of aluminium and copper, which on an average during the quarter have declined 24%.