Hindalco profit jumps 9x to record high on low base, Novelis' showing

On a sequential basis, the company's net profit increased 23 per cent in the period under review on the back of increased revenues

Hindalco Industries reported an all-time high consolidated net profit of Rs 3,417 crore in the September quarter, up nearly ninefold from the corresponding period last year, primarily because of a low base.

On a year-on-year basis, the jump was 783 per cent from Rs 387 crore garnered last year. On a sequential basis, the company’s net profit increased 23 per cent on the back of increased revenue.

Its results were driven by an exceptional performance by Novelis and India business, supported by favorable macros, strategic product mix, higher volumes, and stability in operations, said the company.

The Aditya Birla group company’s topline stood