Novelis' integrated domestic operations add sheen to Hindalco in March

Trade war concerns and lower demand in some sectors may keep prices volatile

After a strong performance from Novelis, Hindalco’s domestic operations also reported a stable performance. Though revenues were ahead of expectations, profits were slightly below expectation. However, despite the challenges, the company expects a steady future, aided by higher efficiencies in operations. The stock was up 1.99 per cent on Thursday.
 
It was the aluminium segment which drove the overall performance in the March quarter, even though realisations were muted. The Indian aluminium business (including Utkal Alumina), which contributed about 51 per cent to domestic revenues, reported an 8 per cent year-on-year (YoY) revenue growth.
 
The segment’s profitability however,