Hindalco Q4: Firm declares dividend of ₹3, check details here
Hindalco reported an 37% year-on-year decline in its consolidated net profit to ₹2,411 crore for the quarter ended March 2023 (Q4FY23) .
PremiumHindalco's board has recommended a dividend of Rs. 3 per equity share of Re1 each for the year ended March 31, 2023. Apart from this, the company also announced its Q4 results for FY23 and the overall yearly performance.
“recommended a dividend of Rs. 3 /- per equity share of Re. 1/- each for the year ended March 31, 2023, subject to the approval of Shareholders at the ensuing Annual General Meeting of the Company," said Hindalco in its filing.
Hindalco Industries Ltd on Wednesday reported an 37% year-on-year decline in its consolidated net profit (attributable to owners of the company) the fiscal's fourth quarter ended March (Q4FY23) to ₹2,411 crore. The company had reported a profit of ₹3,851 crore in the year-ago period. Sequentially, the consolidated net profit was up 77%. At 14:19 IST, Hindalco Industries Ltd share price was trading at ₹409.40 apiece, down 0.20% on BSE.
The company's consolidated revenue from operations stood at ₹55,857 during the quarter ended March from ₹55,764 crore in Q4FY22. Sequentially, up 5.1% from ₹53,517 crore in Q3FY23.
The company reported earnings before interest, taxes, depreciation, and amortisation (EBITDA) of ₹5,818 crore (vs. ₹7,597 crore) in Q4 FY23, down 23% YoY, due to higher input costs and unfavourable macroeconomic conditions, which were partially offset by better operational performance of copper business.
EBITDA increased 48% sequentially because to improved performance from Novelis and the India Aluminium and Copper Business, said the company in an exchange filing.
“Our diversified business model continues to drive Hindalco’s resilient performance in challenging times. Our copper business delivered exceptional results recording its highest-ever EBITDA, driven by robust market demand, stable operations and higher value-added product sales," said Satish Pai, MD, Hindalco Industries.
The company's shares ended 0.88 per cent down at ₹406.60 on BSE.
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