Hindalco posts all-time high PAT of Rs4,119 crore in Q1FY23

11 Aug 2022 , 09:18 AM

Hindalco Industries Limited, the Aditya Birla Group metals flagship, announced its results for the quarter ended June 30, 2022, and surpassed its record performance in Q4FY22.

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.

At around 9.22 AM, Hindalco Industries was trading at Rs435.80 down by 0.97% from its previous closing of Rs440.05 on the BSE.