Hindalco's Dec-quarter consolidated pre-tax profit down 23% at Rs 1,481 cr

Hindalco Industries — an Aditya Birla group firm — posted a consolidated profit before tax (PBT) of Rs 1,481 crore in the December quarter (third quarter, or Q3), down 23 per cent from the same period last year on the back of weak revenue. In the period under review, revenue of the company stood at Rs 29,197 crore, down 12 per cent from the same period last year as realisations took a hit, mainly because of a weak demand scenario across segments. “Demand in Q3 was down 13 per cent sequentially, while year-to-date (YTD), it fell 5 per cent. Both aluminium and copper witnessed a fall in demand in Q3,” said Satish Pai, managing director, Hindalco Industries. According to Bloomberg estimates, the company’s top line was expected to be at Rs 30,073 crore in the quarter gone by. Despite a lowered cost of production, mainly in aluminium, the company’s Ebitda declined 10 per cent on a year-on-year (YoY) basis to Rs 3,676 crore in Q3.