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18 May, 2024 16:01 IST
Hindalco net triples to Rs 19.28 bn on better realisation, lower cost
Source: IRIS | 21 May, 2021, 08.34PM
Rating: NAN / 5 stars.
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    Hindalco Industries, an Aditya Birla group company, reported that its consolidated net profit in the March quarter nearly tripled to Rs 19.28 billion, from Rs 6.68 billion logged in the same period last year, mainly due to lower cost and better realisation.

Revenue in the quarter under review was up 38% at Rs 405.07 billion from Rs 293.18 billion.

The company announced a dividend of Rs 3 per share for FY21.

Consolidated business EBITDA surged 33% YoY to Rs 55.97 billion. Finance cost reduced to Rs 9.03 billion (Rs 14.29 billion).

Satish Pai, Managing Director, Hindalco, said, 'Our record Q4 results have strengthened our balance sheet even further, absorbing the Aleris acquisition and restoring consolidated net debt to EBITDA ratio to pre-acquisition levels. The Aleris business continues to positively impact the overall topline and EBITDA.

He further said, 'Through Q4, our India business continued to rise with demand higher than pre-COVID levels.'

Gross debt of the company declined by Rs 181.87 billion and net debt fell by Rs 148.83 billion as of March 31 from the peak of last June.

Novelis recorded its best-ever quarterly adjusted EBITDA of USD 505 million, up 32% YoY, on the back of higher organic volume, favourable metal benefits, and a USD 60 million EBITDA contribution from the acquired Aleris business. Adjusted EBITDA per ton was at USD 514 in Q4FY21, up 9% YoY.

Shares of the company gained Rs 4.70, or 1.22%, to settle  at  Rs 389.85.  The total volume of shares traded  was  674,224 at  the BSE (Friday). 

  

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