Hindalco Industries on Wednesday reported 76.74 per cent growth in consolidated profit after tax (PAT) at Rs 1,877 crore during the quarter ending December 31, 2020, compared to the same quarter of the previous financial year mainly driven by strong performance by Novelis and India aluminium business. The company s PAT during the third quarter of 2019-20 stood at Rs 1,062 crore, Hindalco said in a BSE filing. The consolidated revenue from operations of Hindalco for the quarter under review went up by 19.73 per cent to Rs 34,958 crore compared to Rs 29,197 crore in the corresponding quarter of FY20. The strong third quarter is due to robust performance by Novelis and domestic aluminium business, which was supported by higher volumes and better product mix, lower input costs, stability in operations and cost saving actions, Hindalco Industries Managing Director Satish Pai told reporters in a virtual press conference.
On a consolidated basis, Hindalco Industries net profit soared 76.74% to Rs 1,877 crore on 19.73% increase in revenue from operations at Rs 34,958 crore in Q3 December 2020 over Q3 December 2019.
Consolidated profit before tax (PBT) surged 91.01% to Rs 2,829 crore in Q3 December 2020 over Q3 December 2019. Tax expense for the quarter jumped 92.84% to Rs 808 crore as against Rs 419 crore in Q3 December 2019. The Q3 result was declared during trading hours today, 10 February 2021.
The results were driven by a strong performance by Novelis and India aluminium business, supported by higher volumes and better product mix, lower input costs, stability in operations and cost saving actions. The copper business maintained its performance sequentially in Q3 FY21 versus Q2 FY21. Novelis reported an all-time high EBITDA as well as EBITDA per ton, as a result of continued demand for innovative, sustainable aluminium solutions and outstanding operational performance across its expanded busines
Hindalco s Q3 net profit jumped 90 per cent to Rs 2,021 crore
Hindalco Industries Q3 Results: Aditya Birla group company Hindalco Industries posted a net profit of Rs 2,021 crore in the third quarter of the current financial year compared to Rs 1,785 crore in the year-ago period, driven by strong domestic business and operational efficiencies. The company s revenue from operations stood at Rs 34,958 crore in the October-December quarter. According to the company s regulatory filing to the BSE, the company witnessed a profit of Rs 495 crore in domestic business, up 90 per cent year-on-year. The consolidated business earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at Rs 5,242 crore, up 40 per cent year-on-year, according to Hindalco s statement.
Hindalco Q3 profit rises 77% to Rs 1,877 crore on strong operational efficiencies, improved macros
Hindalco Q3 results: The consolidated revenue from operations surged by 20 per cent to Rs 34,958 crore in Q3 FY21 as compared to Rs 29,197 crore in the same period last year
Chitranjan Kumar | February 10, 2021 | Updated 14:48 IST
Hindalco s India business PAT rises 90% YoY to Rs 495 crore
Hindalco Industries, the metals flagship company of Aditya Birla Group, on Wednesday reported consolidated profit after tax (PAT) at Rs 1,877 crore for the third quarter ended December 31, 2020, up 77 per cent year-on-year (YoY) and 385 per cent sequentially. The aluminium and copper manufacturing company had posted consolidated profit of Rs 1,062 crore in Q3 FY20 and Rs 387 crore in Q2 FY20.