1 min read.Updated: 12 Nov 2021, 03:07 PM ISTLivemint
Hindalco Q2 results: The company has also posted its all-time high Consolidated EBITDA (Earnings before interest, tax, depreciation and amortisation) at ₹8,048 crore
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Hindalco, the metals flagship company of the Aditya Birla Group, today reported an all-time-high consolidated net profit of ₹3,417 crore for the September quarter (Q2FY22), up 783% when compared with ₹387 crore in the corresponding quarter of last year.
The company has also posted its all-time high Consolidated EBITDA (Earnings before interest, tax, depreciation and amortisation) at ₹8,048 crore, up 56% year-on-year.
The results were driven by an exceptional performance by Novelis and India business, supported by favorable macros, strategic product mix, higher volumes, and stability in operations, Hindalco said in a filing.
Its revenue from operations, meanwhile, came in at ₹47,665 crore, up 53% in the second quarter as against ₹31,237 crore in the same quarter last year.
"Our product-rich portfolio strategy continues to deliver results across diverse market scenarios. It encourages us to keep building the downstream asset base and expand our market footprint," said Satish Pai, Managing Director of Hindalco.
The India business has also seen record profit after tax (PAT) at ₹1,815 crore, up 455% when compared with last year and up 75% sequentially.
Meanwhile, Novelis recorded quarterly adjusted EBITDA of $553 million (vs $455 million), up 22% year-on-year, on the back of higher volumes, favourable product mix and metal benefits.
For the Aluminium India business, EBITDA was at an all-time high of ₹3,247 crore in the reporting quarter, compared with ₹1,188 crore for last year period, an increase of 173% year-on-year, primarily due to favourable macros, improved product mix, higher volumes and better operational efficiencies.