Hindalco Industries on Tuesday reported 123% growth in its standalone net profit for the quarter ended September 2024 to Rs 1,891 crore, compared to Rs 847 crore posted in the last year quarter.
The profit was higher than the Street estimate of Rs 1,294 crore. Revenue from operations increased 8% YoY to Rs 22,262 crore in the reporting period.
Strong profit growth was driven by robust operational performance by the India business, favourable macros and prudent cost management.
Segment-wise, Novelis’ performance was impacted by the Sierre flood and tightening of scrap spreads. Novelis revenue for the quarter came in at $4.3 billion, up 5%, driven by higher average aluminium prices.
Adjusted EBITDA for Novelis at $462 million was down 5% due to less favourable metal benefit, unfavourable product mix, and $25 million flood impact at Sierre. Excluding the Sierre flood impact, shipments grew by 4% and EBITDA per tonne was at $502.
Novelis' net income was down 18% to $128 million, affected by $61 million in charges from Sierre production interruptions along with restructuring and impairment costs.
Aluminium Upstream EBITDA per tonne during the quarter stood at $1,349, up 80%, with industry-best margins of 41%. The segment's EBITDA was up 79% to Rs 3,709 crore supported by lower input cost.
Downstream aluminium revenue during the quarter was at Rs 3,161 crore, up 20%. Sales of downstream aluminium stood at 103 KT, up 10%.
The copper business delivered another record-breaking performance in Q2, with EBITDA at an all-time high of Rs 829 crore, up 27%. Quarterly revenue for the segment rose 5% to Rs 13,114 crore.
“During the quarter, we made significant progress across our growth projects in India Business and Novelis. Our company’s robust cash flow generation enabled us to maintain a consolidated net debt-toEBITDA ratio below 1.2x," said Satish Pai, Managing Director, Hindalco Industries.
On Monday, Hindalco shares closed 0.7% higher at Rs 655.05 on the NSE.
The profit was higher than the Street estimate of Rs 1,294 crore. Revenue from operations increased 8% YoY to Rs 22,262 crore in the reporting period.
Strong profit growth was driven by robust operational performance by the India business, favourable macros and prudent cost management.
Segment-wise, Novelis’ performance was impacted by the Sierre flood and tightening of scrap spreads. Novelis revenue for the quarter came in at $4.3 billion, up 5%, driven by higher average aluminium prices.
Adjusted EBITDA for Novelis at $462 million was down 5% due to less favourable metal benefit, unfavourable product mix, and $25 million flood impact at Sierre. Excluding the Sierre flood impact, shipments grew by 4% and EBITDA per tonne was at $502.
Novelis' net income was down 18% to $128 million, affected by $61 million in charges from Sierre production interruptions along with restructuring and impairment costs.
Aluminium Upstream EBITDA per tonne during the quarter stood at $1,349, up 80%, with industry-best margins of 41%. The segment's EBITDA was up 79% to Rs 3,709 crore supported by lower input cost.
Downstream aluminium revenue during the quarter was at Rs 3,161 crore, up 20%. Sales of downstream aluminium stood at 103 KT, up 10%.
The copper business delivered another record-breaking performance in Q2, with EBITDA at an all-time high of Rs 829 crore, up 27%. Quarterly revenue for the segment rose 5% to Rs 13,114 crore.
“During the quarter, we made significant progress across our growth projects in India Business and Novelis. Our company’s robust cash flow generation enabled us to maintain a consolidated net debt-toEBITDA ratio below 1.2x," said Satish Pai, Managing Director, Hindalco Industries.
On Monday, Hindalco shares closed 0.7% higher at Rs 655.05 on the NSE.
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