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04 NOVEMBER 2017 AL CIRCLE

Hindalco’s Q2 FY18 standalone net profit declines 11% on exceptional provision

EDITED BY : HEENA IQBAL 1MINS READ

Hindalco Industries Ltd., a subsidiary of the Aditya Birla Group, published its standalone unaudited financial results for the quarter ended 30th September, 2017. Hindalco’s aluminium production stood at 326 thousand tonnes in Q2 FY2018. Aluminium wire production was down 2 per cent at 119 thousand tonnes due to subdued demand

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The company’s net profit for Q2 FY2018 declined to INR 393 crore from INR 440 crore in the previous year, due to exceptional provision of INR 106 crore in Q2 FY18. Hindalco’s revenues during the quarter stood at INR 10,308 crore driven by higher aluminium volumes and realisation.

EBITDA was INR 1,577 crore, an increase of 6 per cent compared to the previous year, on account of higher aluminium volumes and supportive macro factors, partly offset by higher input costs and lower volumes in copper segment.

Hindalco’s standalone aluminium revenue for Q2 FY2018 was INR 5,213 crore driven by higher sales of aluminium metal and increased realisation. EBITDA increased 18 per cent to INR 957 crore on the back supporting macro factors and higher volumes, partly offset by rise in input costs.


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EDITED BY : HEENA IQBAL 1MINS READ

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