Hindalco PAT hikes 95.7% to Rs 3,675 cr in Dec quarter FY21
Steel

Hindalco PAT hikes 95.7% to Rs 3,675 cr in Dec quarter FY21

Aditya Birla Group's metals flagship, Hindalco Industries Ltd, announced a 95.7% boost in consolidated profit after tax (PAT) to Rs 3,675 crore for the quarter of December 31, 2021.

The boost in PAT was caused by focusing on downstream value-added products, including better-operating efficiencies.

The firm reported a consolidated PAT of Rs 1,877 crore, and in October-December 2021 increased to Rs 50,272 crore, compared with Rs 34,958 crore in the year-ago period.

The firm revealed that PAT in Q3 FY22 increased to a record Rs 3,675 crore compared to Rs 1,877 crore in Q3 FY21, a 96% jump year-over-year (YoY).

Its consolidated revenue for the third quarter stood at Rs 50,272 crore, a jump of 44% from Rs 34,958 crore.

In Q3 FY22, the company reported its highest net profit surpassing all previous quarterly performances.

The results were driven by a consistent performance by Novelis, a leading producer of flat-rolled aluminium products and by Indian businesses, backed by strategic product mix and enhanced performance by the downstream business, and profitable macros.

Satish Pai, Hindalco Industries Managing Director, told the media that the firm has already proposed more than Rs 3000 crore worth of investments in their downstream pipeline Hirakud and Silvassa, and the Ryker and Hydro's Kuppam units acquisitions.

Novelis has also announced capital projects that align sustainability considerations and market development.

Pai gave an example of a $365 million closed-loop recycling and casting centre for the North American market. He said the company expects a surge in aluminium and copper demand.

Image Source

Also read: Hindalco signs deal with Norsk Hydro for Rs 247 cr aluminium business

Aditya Birla Group's metals flagship, Hindalco Industries Ltd, announced a 95.7% boost in consolidated profit after tax (PAT) to Rs 3,675 crore for the quarter of December 31, 2021. The boost in PAT was caused by focusing on downstream value-added products, including better-operating efficiencies. The firm reported a consolidated PAT of Rs 1,877 crore, and in October-December 2021 increased to Rs 50,272 crore, compared with Rs 34,958 crore in the year-ago period. The firm revealed that PAT in Q3 FY22 increased to a record Rs 3,675 crore compared to Rs 1,877 crore in Q3 FY21, a 96% jump year-over-year (YoY). Its consolidated revenue for the third quarter stood at Rs 50,272 crore, a jump of 44% from Rs 34,958 crore. In Q3 FY22, the company reported its highest net profit surpassing all previous quarterly performances. The results were driven by a consistent performance by Novelis, a leading producer of flat-rolled aluminium products and by Indian businesses, backed by strategic product mix and enhanced performance by the downstream business, and profitable macros. Satish Pai, Hindalco Industries Managing Director, told the media that the firm has already proposed more than Rs 3000 crore worth of investments in their downstream pipeline Hirakud and Silvassa, and the Ryker and Hydro's Kuppam units acquisitions. Novelis has also announced capital projects that align sustainability considerations and market development. Pai gave an example of a $365 million closed-loop recycling and casting centre for the North American market. He said the company expects a surge in aluminium and copper demand. Image Source Also read: Hindalco signs deal with Norsk Hydro for Rs 247 cr aluminium business

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code