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Hindalco consolidated third quarter profit soars 77% to Rs 1,877 cr


Hindalco Industries on Wednesday reported 76.74 per cent growth in consolidated profit after tax (PAT) at Rs 1,877 crore during the quarter ending December 31, 2020, compared to the same quarter of the previous financial year mainly driven by strong performance by Novelis and India aluminium business.
The company s PAT during the third quarter of 2019-20 stood at Rs 1,062 crore, Hindalco said in a BSE filing.
The consolidated revenue from operations of Hindalco for the quarter under review went up by 19.73 per cent to Rs 34,958 crore compared to Rs 29,197 crore in the corresponding quarter of FY20.
The strong third quarter is due to robust performance by Novelis and domestic aluminium business, which was supported by higher volumes and better product mix, lower input costs, stability in operations and cost saving actions, Hindalco Industries Managing Director Satish Pai told reporters in a virtual press conference.

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