Hindalco Q1FY22 results: Consolidated profit at Rs 2,787 cr

On Friday, Hindalco Industries announced a consolidated profit after tax of Rs 2,787 crore for the quarter that ended June 30, 2021. The metal major of the Aditya Birla group had a consolidated loss of Rs 709 crore in the previous financial year. According to a regulatory filing by the company, consolidated revenue from operations increased to Rs 41,358 crore in April-June from Rs 25,283 crore the previous year. Novelis and the India business produced excellent results, aided by favourable macroeconomics, a strategic product mix, and operational stability. Due to increased demand for innovative and sustainable aluminium products, as well as strong operational results, Novelis reported an all-time high quarterly EBITDA. Hindalco has strengthened its efforts to protect employees and the community in anticipation of the third wave of Covid. Over 51,000 employees have received at least one dose of the vaccine. The government and Hindalco are working together in some states to vaccinate residents at the company's hospitals and health centres. Hindalco's dedicated team of 245 paramedics and 77 doctors is available to serve its employees and the surrounding community 24 hours a day. Hindalco has improved its medical infrastructure by equipping its hospitals and health centres with critical care equipment such as CT scanners, establishing oxygen lines in remote locations to serve patients in need of ICU care, and expanding its lab testing capabilities. Hindalco's medical teams have been strengthened, with paediatricians added and paramedics upgraded. The Aditya Birla Group's metals flagship company is Hindalco Industries Limited. Hindalco's acquisition of Aleris Corporation by its subsidiary Novelis Inc. in April 2020 solidified the company's position as the world's largest flat-rolled products manufacturer and recycler of aluminium. Hindalco's cutting-edge copper plant includes a world-class copper smelter, a fertiliser plant, and a captive jetty. At a single location, the copper smelter is one of Asia's largest custom smelters. Image Source Also read: Hindalco to invest around Rs 10k cr in Hirakud, Silvassa, Mundra plant Also read: Hindalco to restart all projects on hold, plans to invest Rs 2,700 cr