Hindalco reports all-time high consolidated net profit at ₹2,787 crore in Q1FY22

Hindalco Aditya Birla

Hindalco Aditya Birla

Hindalco, the major metals producer Aditya Birla Group, announced Friday that it had consolidated first-quarter net income of 7,787 kronor. The company linked these results to the strong performance of Novelis and India Business, underpinned by low macro costs, strategic product mix and strong business activity. Novelis added that he reported a record high quarterly EBITDA, driven by increased demand for innovative and sustainable aluminum products and superior performance.

The company's total operating profit was 41,358 crore, up 64% from 25,283 crore in the same period last year. Hindalco also announced that its consolidated EBITDA reached a record high of 6,790 crore. This is an 188% increase over the same period last year and 16% over the previous quarter. Novelis and Aluminum India posted the highest quarterly net sales. Indian Aluminum's EBITDA was ₹ 2,352 crore in the first quarter of 2016, the highest compared to ₹973 crore in the first quarter of fiscal 21. India's aluminum business produced 319,000 tonnes of metal, up from 291,000 tonnes in the reporting period.

As of June 30, 2021, total debt has decreased by Rs 16,345crore, while net debt has decreased by Rs 10,389 crore from a high on June 30, 2020. Consolidated Net Debt to EBITDA at 30 June 2021 increased by 2.36x. Satish Pai, Managing Director of Hindalco Industries: “We achieved record results this quarter despite the impact of the second Covid-19. Our strong financial results, accelerated reduction in leverage and growth in the balance sheet were recognized by the market and reflected in the upgrade of ratings for Novelis and Hindalco. Improvements were seen across all areas of the business, including high-demand equipment, with increased production capacity and profitability. "

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