Hindalco Industries’ net profit declines 63% yoy in Q3FY23 at Rs1,362 crore

9 Feb 2023 , 03:09 PM

Hindalco Industries Limited, the Aditya Birla Group’s metals flagship, reported consolidated revenue of Rs53,151 crore in Q3FY23, up 6% year on year, owing to higher volumes and consistent operational performance across India operations.

Hindalco’s Consolidated PAT was Rs1,362 crore in Q3FY23, down 63% year on year from Rs3,675 crore in Q3FY22, primarily due to higher input costs, unfavourable macroeconomic conditions, and inflationary pressures, stated the company in its media release.

Hindalco reported an EBITDA of Rs3,930 crore (vs. Rs7,624 crore) in Q3FY23, a 48% decrease year on year, owing to rising input costs and unfavourable macroeconomic conditions, which were partially offset by improved operational performance in the copper and downstream businesses.

‘Globally, the foundation of various industries is being shaken by macro-economic turbulence and rising inflationary costs. Despite these challenges, our India operations flourished with a robust showing, marked by a rise in volume across all business segments,’ commented Hindalco on its Q3 performance.

At around 2.58 PM, Hindalco Industries was trading 0.44% higher at Rs438.35, against the previous close of Rs436.50 on NSE. The counter touched an intraday high and low of Rs443.35 and Rs431.75 respectively.

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