Mumbai (Maharashtra) [India], May 24 (ANI): Hindalco Industries Limited, a metal company owned by Aditya Birla Group, posted a consolidated quarterly net profit of Rs 3,174 crore, an increase of 32 per cent year-on-year (YoY), the company said in its regulatory filing.
This surge in the company’s performance was registered due to the robust performance and improved margins across all business segments, Hindalco added. The company reported Rs 2411 crore as its profit in the fourth quarter of last year.
Consolidated revenue for the fourth quarter was Rs 55,994 crore, up from Rs 55,857 crore, and remained unchanged year over year, up 6 per cent (QoQ), as a result of improved volumes and realisations in the India operations, the company added.
The company saw its net profit increase by 0.6 per cent to Rs 10,155 crore for the whole fiscal year, compared to Rs 10,097 crore at the end of FY23.
In the meantime, revenue decreased to Rs 2.16 trillion from Rs 2.23 trillion declared at the end of FY23, a 3.2 per cent decline.
It suggested paying out a dividend of Rs 3.50 for each equity share valued at Rs for the fiscal year ending March 31, 2024, subject to approval at the company’s annual general meeting.
Earnings before interest, taxes, depreciation, and amortisation (Ebitda) increased by 24 per cent year over year to Rs 7,201 crore. In the aluminium segment, quarterly upstream revenue was Rs 8,469 crore in the fourth quarter of the financial year (FY) of 2024 compared to Rs 8,050 crore in the prior year period.
Aluminium upstream EBITDA stood at Rs 2,709 crore in Q4 FY24, compared with Rs 2,192 crore for Q4 FY23, up 24 per cent YoY, and up 11 per cent QoQ supported by lower input costs, the statement added.
In the copper segment, the quarterly revenue stood at Rs 13,424 crore, up 20 per cent YoY, on account of higher volumes.
Commenting on the results, Satish Pai, Managing Director, Hindalco Industries, said, “We continue to maintain a strong balance sheet and solid liquidity even after repaying Rs5,195 crore of
debt in Hindalco India business during the year.”
He further added, “On the ESG front, our large-scale renewable and energy storage projects have put us well on track for our climate action targets, and we have further advanced our initiatives in waste recycling, protecting biodiversity and water conservation.”
Hindalco Industries Limited, a US 26 billion metals powerhouse, is the world’s largest aluminium company by revenue, and the world’s second-largest Copper rods manufacturer (outside China), it claims.
It operates across the value chain, from bauxite mining, alumina refining, coal mining, captive power plants and aluminium smelting to downstream rolling, extrusions, and foils. Along with its subsidiary Novelis, the company is the major player in flat-rolled products and the world’s largest recycler of aluminium. (ANI)
