Hindalco Industries’ consolidated PAT drops 33% YoY in Q2 FY20

Hindalco Industries Ltd., a global leader in aluminium and copper, announced consolidated results for the second quarter ended 30 September 2019. Hindalco’s consolidated revenue stood at INR 29,657 crore, a decrease of 8.77% from INR 32,507 crore in the previous year.

EBITDA was INR 3,918 crore in Q2 FY20 compared to INR 4,276 crore a year ago. This marked a decrease of 8.37% year-on-year. Consolidated Profit before Exceptional Items and Tax was INR 1,748 crore compared to INR 2,152 crore in the prior year. Profit After Tax stood at INR 974 crore in Q2 FY20, down 33% from INR 1,448 crore in the corresponding quarter last year, on the back of global slowdown and lower commodity prices.

Revenue from aluminium business declined 10% year-on-year to INR 5,526 crore in Q2 FY20, due to lower realisations. EBITDA stood at INR 849 crore in Q2 FY20 compared to INR 1,368 crore in Q2 FY19.

Hindalco achieved aluminium production of 330 thousand tonnes. Alumina production (including Utkal) stood at 667 thousand tonnes in Q2 FY20. Sales volume of Aluminium Value Added Products (VAPs), excluding wire rods, rose 5 per cent to 78 thousand tonnes in Q2 FY20.

Satish Pai, Managing Director, Hindalco Industries Ltd., said, “Stronger operational efficiencies in upstream business and our rising share of value added products have led to a stronger and de-risked business model. Our sustainability initiatives have achieved recognition through the prestigious National CSR Award and our standing in the Dow Jones Sustainability Index. Globally, consumer demand for sustainable packaging options and automotive closed-loop recycling systems continues to grow.”