The company’s consolidated PAT rose to an all-time high of Rs4,119 crore in Q1FY23, up by 48% on a y-o-y basis, and 7% sequentially despite rising costs and inflationary pressures.
The company reported an all-time high quarterly Consolidated EBITDA of Rs8,640 crore in Q1FY23, registering a growth of 27% yoy against Rs6,790 crore in Q1FY22.
Company’s consolidated revenue from operations stood at Rs58,018 crore in Q1FY23 compared to Rs41,358 crore in the previous corresponding quarter, up by 40.28% yoy.
The company stated that the results were driven by an excellent performance by Novelis, and a robust performance by Aluminium Downstream and Copper businesses, supported by operational efficiencies and higher volumes.
Novelis reported its best-ever quarterly EBITDA of $561 million, and EBITDA per ton of $583, primarily due to higher product pricing, favourable product mix, and recycling benefits.
Further, the company stated that Novelis’ ~$3.4 billion strategic capital investment projects have commenced.
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