 "Hindalco")
Aluminium and copper producer Hindalco Industries on Friday reported a 31.6 per cent year-on-year (Y-o-Y) rise in consolidated net profit at Rs 3,174 crore for the March quarter (Q4) in the financial year 2023-24 (FY24), driven by robust sales and low input costs across business segments. The firm had reported Rs 2,411 crore in profits during the corresponding period last year.
Sequentially, net profit rose by 36 per cent from Rs 2,331 crore.
Consolidated revenue from operations grew marginally by 0.25 per cent to Rs 55,994 crore Y-o-Y from Rs 55,857 crore. Sequentially, revenue went up 6 per cent, from Rs 52,808 crore reported in Q3.
The company announced earnings before interest, taxes, depreciation, and amortisation (Ebitda) of Rs 7,201 crore, marking a 24 per cent Y-o-Y increase from Rs 5,818 crore.
The copper business segment showed significant growth, with revenue rising 20 per cent to Rs 13,424 crore, fuelled by higher sales volumes and prices. Meanwhile, the revenue from the aluminium upstream segment increased by 5 per cent to Rs 8,459 crore.
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For the entire financial year, Hindalco's net profit grew by 0.6 per cent to Rs 10,155 crore, compared to Rs 10,097 crore at the end of FY23. Meanwhile, revenue fell by 3.2 per cent to Rs 2.16 trillion, compared to Rs 2.23 trillion reported at the end of FY23.
Managing director Satish Pai commented on the company’s financial health, stating, "We continue to maintain a strong balance sheet and solid liquidity even after repaying Rs 5,195 crore of debt in Hindalco India business during the year. This positions us well to stay on our growth track and drive our future organic growth plans with prudent capital allocation."
The company's board has recommended a final dividend of Rs 3.50 per share for the year ended March 31, 2024.
