Hindalco Industries Reports 71% YoY Profit Growth in Q3 2023 on Robust Aluminium and Copper Performance

13 Feb 2024 , 03:12 PM

Hindalco Industries reports a 71% YoY growth in consolidated net profit, reaching ₹2,331 Crore for Q3 2023. Revenue from operations slightly declines to ₹52,808 Crore compared to ₹53,151 Crore in the same quarter last year.

Robust performance in the aluminum and copper business segments drives profit growth. Consolidated EBITDA for the December quarter jumps 61% YoY, reaching ₹6,322 Crore. Total shipments of flat rolled products remain flat at 910 Kt in Q3.

India Aluminium segment upstream revenue slightly falls to ₹7,971 Crore, while Aluminium Upstream EBITDA increases 54% YoY to ₹2,443 Crore.

Downstream revenue in the third quarter declines to ₹2,547 Crore, with downstream Aluminium sales at 90 Kt vs 91 Kt in Q3 FY23. Downstream EBITDA drops 34% YoY to ₹103 Crore, primarily impacted by an unfavorable product mix and lower realizations. Copper business revenue rises 16% YoY to ₹11,954 Crore, driven by higher sales volumes and prices.

EBITDA for the copper business reaches an all-time high of ₹656 Crore in Q3, supported by higher shipments and robust operations. Copper metal sales during the quarter are at 119 Kt, while Copper Continuous Cast Rod (CCR) sales stand at 93 Kt, driven by market demand for value-added products and increased utilization of rod mills.

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