Hindalco Industries Limited, the Aditya Birla Group metals flagship, on Friday reported its highest ever consolidated net profit in Q2FY22 at Rs 3,417 crore, a 783% jump. The company reported net profit of Rs 387 crore in the year-ago period.
Consolidated revenue for the second quarter stood at Rs 47,665 crore (vs Rs 31,237 crore), up 53% YoY.
"Our record-breaking performance this quarter is an affirmation of our fully integrated business model, which powers our performance in both upstream and downstream markets. Hindalco reported standout performances across all business segments: Indian Aluminium Business set a near global industry record by achieving EBITDA margin of 42%. Copper Business delivered the highest-ever quarterly sales in Q2, with both smelters running optimally to meet the robust market demand. Novelis once again achieved a record EBITDA per ton driven by higher volumes and favourable metal prices," said Satish Pai, Managing Director, Hindalco Industries.
The results were driven by an exceptional performance by Novelis and India business, supported by favourable macros, strategic product mix, higher volumes and stability in operations.
The copper business delivered the highest-ever quarterly sales in the second quarter, with both smelters running optimally to meet the robust market demand. Novelis once again achieved a record Ebitda per tonne driven by higher volumes and favourable metal prices, he said.
"Our product-rich portfolio strategy continues to deliver results across diverse market scenarios. It encourages us to keep building the downstream asset base and expand our market footprint.
"The recent Ryker copper rod unit acquisition is in keeping with our downstream capex (capital expenditure) plans announced earlier this year. We also continue to push our ESG (environment, social and governance) agenda and goals to meet our sustainability vision on net neutrality, water positivity, zero discharge and more," Pai added.
The company said the record results were driven by an outstanding performance by Novelis as well as India business, supported by a sharp recovery in all relevant markets, and improved macros and higher volumes.
At 1445 hours, the company's scrip on NSE was trading 3% higher at Rs 468.70.