Hindalco Industries Ltd. of the Aditya Birla Group reported second quarter consolidated net profit grew 78% to ₹3,909 crore over the year ago period driven by a strong operational performance by the India business, favourable macros and prudent cost management, the company said.
Revenue from operations for the quarter ended September 30, 2024 grew 7% to Rs 58,203 crore over the same period last year.
“Aluminium Upstream EBITDA per tonne was at $1,349, up 80%, with industry-best margins of 41%. Copper Business delivered another record-breaking performance in Q2, with EBITDA at an all-time high of ₹829 crore, up 27%. Novelis’ performance was impacted by the Sierre flood and tightening of scrap spreads. Excluding the Sierre flood impact, shipments grew by 4% and EBITDA per tonne was at $502,” the company said in a filing.
Satish Pai, Managing Director, Hindalco Industries, said, “Our India business delivered a strong operational performance in Q2 bolstered by our relentless focus on operational reliability and cost management. Consequently, our Aluminium India Upstream business reported an EBITDA per tonne of $1,349— the highest in the last 10 quarters and the best-in-industry globally.”
“The Copper business achieved another record quarterly EBITDA. Novelis’ global footprint allowed the company to achieve record beverage packaging shipments, partially offsetting the impact from the flooding-related outage at Sierre,” he said.
“During the quarter, we made significant progress across our growth projects in India Business and Novelis. Our company’s robust cash flow generation enabled us to maintain a consolidated net debt-to EBITDA ratio below 1.2x,” he added.
Published - November 11, 2024 09:20 pm IST
