Novelis Inc.

Novelis Records $118 Million Profit in Fourth Quarter of Fiscal Year 2008

Published in Lab Business Week, July 6th, 2008

Novelis Inc., a subsidiary of Hindalco Industries Limited , reported net income of US$118 million for the fourth quarter of fiscal year 2008, which ended on March 31, 2008. For the full fiscal year, the company recorded a net loss of $69 million. This compares with net losses of $64 million and $265 million, respectively, for the corresponding prior-year periods.

Novelis changed its fiscal year-end from December 31 to March 31 following its acquisition by Hindalco on May 15, 2007 (see note below).

"In the face of an inflationary environment, we are focused on operational performance and risk management improvement," said Martha Finn Brooks, President...

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Source: Lab Business Week (2008-07-06)

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