Hindalco Industries (NSE 0.50%) on Thursday reported a doubling of consolidated profit at Rs 3,851 crore in the March quarter, a record high for any quarter, compared with Rs 1,928 crore in the same quarter last year.
Consolidated revenue for the fourth quarter rose 38 per cent to Rs 55,764 crore, compared with Rs 40,507 crore in the corresponding quarter last year.
Ebitda for the quarter jumped 30 per cent YoY to Rs 7,597 crore from Rs 5,845 crore, up 30 per cent. The results were driven by positive macros and a focus on downstream value-added products along with better operating efficiencies, the company said in a BSE filing.
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The stock score of Hindalco Industries Ltd moved down by 3 in the last 3 months on a 10-point scale.
The company said its consolidated net debt to Ebitda stood at 1.36 times as of March 31, 2022, compared with 2.59 times as of March 31, 2021.
Novelis' net income from continuing operations stood at $217 million, up 21 percent YoY. Satish Pai, Managing Director, Hindalco Industries, said: "With record profitability in the fourth quarter, we had a very good end to the year." We attribute Hindalco’s highest-ever profits not just to strong macros but also to our consistent focus on operational excellence and cost optimization. "We continue to remain one of the world’s lowest-cost and highest Ebitda margin producers of aluminium."
Novelis' net income was up, mainly driven by lower interest expenses during the quarter. Revenue for Novelis rose 34 per cent YoY to $4.8 billion from $3.6 billion, led by higher global aluminium prices. Total shipments of flat-rolled products (FRPs) were up at 9,87,000 tonnes against 9,83,000 tonnes in Q4 FY21.