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Hindalco’s standalone revenue increases 28% for the quarter ended 30th June
Hindalco Industries Ltd., India's leading producer of aluminium and copper and a subsidiary of the Aditya Birla Group, released its standalone unaudited financial results for the quarter ended 30th June, 2017.
The company’ revenue during the quarter stood at INR 10,407 crore, up 28 per cent compared to Q1 FY2017 driven by higher volumes and realisation. EBITDA (Earnings before Interest, Tax, Depreciation and Amortisation) was INR1,404 crore, an increase of 4 per cent compared to Q1 FY2017 on account of higher aluminium and copper volumes, supportive macros partly offset by higher input cost.
The company’s net profit for Q1 FY2018 declined to INR 290 crore from INR 294 crore in the previous year. “The net profit for the current quarter factors the exceptional provisioning of INR 104 crore which is on the basis of recent Supreme Court judgement in a matter relating to mining regulation (to which the company was not a party),”the company said.
Hindalco’s standalone aluminium revenue for Q1 FY2018 was INR 5,008 crore, up 9 per cent Y-o-Y driven by higher sales of aluminium metal and increased realisation. EBITDA was in line with the last year at INR 875 crore, on account of higher volumes with stable plant operations and supportive macro factors, partly offset by higher input costs.
For Q1 FY2018, aluminium production was 321000 tonnes, up 4 per cent as compared to Q1 FY2017. VAP (including Wire Rod) production was at 120000 tonne, up 15 per cent as compared to the previous year.
Coal security further improved for Aluminium Business with new coal linkage of 2.9 million tonne in Q1 FY2018. Novelis achieved record Q1 shipments of 785 kilotonne, up 4 per cent compared to previous year; automotive shipments increased by 16 per cent.Get fresh Aluminium data and insights
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