Hindalco Industries on Thursday reported a 60% year-on-year rise in its net profit during the October-December quarter, at Rs 3,735 crore, beating Bloomberg consensus estimate of Rs 3,372 crore. The aluminium and copper major also exceeded revenue expectations, posting Rs 58,390 crore, up 11%, ahead of the estimated Rs 55,632 crore.
Earnings before interest, taxation, depreciation, and amortisation (Ebitda) stood at Rs 8,108 crore, up 28% and above the estimate of Rs 7,390 crore. Total income for the quarter rose to Rs 58,899 crore from Rs 53,088 crore a year ago, while expenses increased to Rs 53,563 crore from Rs 49,761 crore.
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The company’s strong performance was primarily driven by its India business. India’s PAT surged 134% year-on-year to Rs 2,885 crore. Revenues grew 19% to Rs 24,618 crore, while Ebitda jumped 69% to Rs 4,773 crore. The company shares closed up 0.54% at Rs 602.3 on the BSE. The company’s results were announced after market hours.
“Hindalco delivered robust consolidated results in the third quarter despite global uncertainties, driven by an excellent performance in its India business. The aluminium India upstream business achieved record quarterly Ebitda, with industry-leading margins of 42%. The downstream segment experienced consistent growth, posting a 36% increase in Ebitda. The copper business delivered a robust 18% growth in Ebitda,” said Satish Pai, managing director, Hindalco Industries.
However, the performance of its US subsidiary, Novelis, lagged due to rising aluminium scrap prices. Novelis’ revenue rose 4% to $4.1 billion (approximately Rs 35,656 crore), but segment Ebitda declined 19% to $367 million (approximately Rs 3,192 crore). Net profit fell 9% annually to $110 million (approximately Rs 957 crore), while shipments slipped 1% to 904 kilotonnes (KT). Pai noted that Novelis continues to implement operational and cost-efficiency measures to navigate pricing pressures.
Hindalco’s aluminium upstream segment generated Rs 9,993 crore in revenue, up 25% from Rs 7,971 crore in Q3FY24, while the downstream segment contributed Rs 3,195 crore, also up 25%. The copper segment posted Rs 13,732 crore in revenue, a 15% increase from Rs 11,954 crore a year ago.
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“During the quarter, we secured critical resources for our India upstream business,
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