Hindalco Industries Q2 profit tumbles 35%

14 Nov 2022 CW Team

Hindalco Industries Ltd reported a 35.4 percent drop in consolidated profit after tax to Rs 22.05 billion for the quarter ended September, owing primarily to higher input costs. Hindalco Industries, a subsidiary of the Aditya Birla Group, reported a consolidated profit after tax of Rs 34.17 billion in the previous fiscal year, according to a BSE filing.

However, consolidated revenue from operations increased to Rs 561.76 billion in the second quarter of the current fiscal year from Rs 476.65 billion the previous year.

"Hindalco Industries... reported consolidated revenue of Rs 561.76 billion in Q2 FY23, an increase of 18 per cent Y-o-Y, driven by higher volumes and better realisations," the company said in a statement.

The company reported an EBITDA of Rs 57.43 billion in the second quarter, a 29% decrease from the previous year, owing to rising input costs and unfavourable macroeconomic conditions. This was offset in part by improved operational performance in the copper and downstream businesses. Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) is an abbreviation for Earnings Before Interest, Taxes, Depreciation, and Amor.

Satish Pai, the company's managing director, stated that over the years, the company has transitioned to a resilient and integrated business model that supports performance and profitability even in difficult times.

Despite an increase in input costs, the company produced the highest-ever volumes of aluminium metal.

While the company's upstream aluminium business' EBITDA was impacted by higher raw material and energy costs, the company's downstream aluminium business performed well, with EBITDA more than doubling year on year due to better pricing and market demand.

According to Pai, the copper industry outperformed, reporting its highest-ever metal and copper rod sales.

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..