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

Next Story
Infrastructure Urban

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Next Story
Infrastructure Urban

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Next Story
Infrastructure Urban

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, “We are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?