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Hindalco Industries Q2 Revenue Falls 35% to Rs 2,205 Crore

Hindalco Industries Ltd on Friday reported 35.4 per cent decline in consolidated revenue after tax at Rs 2,205 crore for the quarter ended September primarily as a consequence of elevated enter prices. The corporate, a part of the Aditya Birla Group, had posted a consolidated revenue after tax of Rs 3,417 crore within the year-ago interval, Hindalco Industries mentioned in a submitting to BSE.

Nevertheless, the consolidated income from operations within the second quarter of the present fiscal elevated to Rs 56,176 crore from Rs 47,665 crore within the year-ago interval.

“Hindalco Industries… reported consolidated income of Rs 56,176 crore in Q2 FY23, a rise of 18 per cent Y-o-Y, pushed by greater volumes and higher realisations,” the corporate mentioned in a press release.

The corporate reported an EBITDA of Rs 5,743 crore within the second quarter, down 29 per cent in comparison with the year-ago interval, impacted by rising enter prices and unfavourable macros. This was partially offset by higher operational efficiency of copper and downstream companies.

EBITDA refers to Earnings Earlier than Curiosity, Taxes, Depreciation and Amortisation.

The corporate’s Managing Director Satish Pai mentioned that over time, it has transitioned to a resilient and built-in enterprise mannequin which helps efficiency and profitability even when occasions are difficult.

Regardless of a surge in enter prices, the corporate produced the highest-ever aluminium steel volumes.

Whereas the upstream aluminium enterprise EBITDA was impacted as a consequence of elevated uncooked materials and vitality prices, the corporate’s aluminium downstream enterprise carried out properly with EBITDA greater than doubling Y-o-Y as a consequence of higher pricing and market demand.

The copper enterprise outperformed, reporting its highest ever steel and copper rod gross sales, Pai mentioned.

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