Hindalco has posted record earnings for the fourth quarter of last year’s October-December period thanks to high commodity prices that have helped the company to significantly reduce debt.
Hindalco Industries Limited, the metals flagship of Aditya Birla Group, reported its highest net profit in Q3 FY22, beating all previous quarterly performances. The company’s consolidated PAT reached a record Rs. 3,675 crore, an increase of 96 % year-on-year.
The good results were driven by a steady performance of Novelis and an exceptional performance of India Business, supported by favorable macros, a strategic product mix and improved performance of the downstream business.
Hindalco reported a consolidated bottom line of Rs. 3,675 million for the quarter, almost double the prior-year period. Revenues grew 44% year-on-year to 50. 272 million rupees. Earnings before interest, taxes, depreciation and amortization (EBITDA) grew by 38% to Rp 7,624 million.
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