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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.
On a consolidated basis, Hindalco Industries' net profit soared 76.74% to Rs 1,877 crore on 19.73% increase in revenue from operations at Rs 34,958 crore in Q3 December 2020 over Q3 December 2019. Consolidated profit before tax (PBT) surged 91.01% to Rs 2,829 crore in Q3 December 2020 over Q3 December 2019. Tax expense for the quarter jumped 92.84% to Rs 808 crore as against Rs 419 crore in Q3 December 2019. The Q3 result was declared during trading hours today, 10 February 2021. The results were driven by a strong performance by Novelis and India aluminium business, supported by higher volumes and better product mix, lower input costs, stability in operations and cost saving actions. The copper business maintained its performance sequentially in Q3 FY21 versus Q2 FY21. Novelis reported an all-time high EBITDA as well as EBITDA per ton, as a result of continued demand for innovative, sustainable aluminium solutions and outstanding operational performance across its expanded business.
Hindalco Q3 profit rises 77% to Rs 1,877 crore on strong operational efficiencies, improved macros Hindalco Q3 results: The consolidated revenue from operations surged by 20 per cent to Rs 34,958 crore in Q3 FY21 as compared to Rs 29,197 crore in the same period last year Chitranjan Kumar | February 10, 2021 | Updated 14:48 IST Hindalco's India business PAT rises 90% YoY to Rs 495 crore Hindalco Industries, the metals flagship company of Aditya Birla Group, on Wednesday reported consolidated profit after tax (PAT) at Rs 1,877 crore for the third quarter ended December 31, 2020, up 77 per cent year-on-year (YoY) and 385 per cent sequentially. The aluminium and copper manufacturing company had posted consolidated profit of Rs 1,062 crore in Q3 FY20 and Rs 387 crore in Q2 FY20.
Hindalco net up 77% on higher realisation, lower cost February 10, 2021 × Hindalco Industries, an Aditya Birla Group company, has reported that its net profit increased 77 per cent to ₹ 1,877 crore against ₹ 1,062 crore logged in the same period last year, on the back of higher realisation and lower cost. Revenue from operation was up 20 per cent at ₹ 34,958 crore (₹ 29,197 crore). Ebitda during the quarter jumped 50 per cent to ₹ 5,521 crore (₹ 3,676 crore). Satish Pai, Managing Director, Hindalco Industries, said the demand for aluminium, both in domestic and global markets, bounced back sharply and is expected to touch one million tonne in the fourth quarter. On the back of steady cash generated and revival in economy, the company will take a call on the capital allocation between capex, debt deleveraging and dividend payment to shareholders in next few weeks, he said.
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