By Malvika Gurung
Investing.com -- The leading aluminium and copper manufacturing company Hindalco Industries (NS: HALC ) released its earnings results for the June 2022 quarter, posting the highest-ever net profit in any quarter.
The mining major’s consolidated net profit surged 47.8% YoY and 7% QoQ to Rs 4,119 crore in the June quarter, which is by far its best quarterly consolidated PAT.
Its consolidated revenue surged 40.3% YoY to Rs 58,018 crore in the quarter.
Hindalco’s record high bottomline was led by improved macros, robust performance of aluminium downstream and copper businesses, better operational efficiencies and increased volumes, along with an outstanding performance of the wholly owned aluminium subsidiary Novelis in the quarter under review.
The Aditya Birla Group flagship company also recorded an all-time high EBITDA in Q1 FY23, advancing 27% YoY to Rs 8,640 crore.
Subsidiary Novelis posted its highest ever Ebitda/tonne, driven by increased product pricing, favourable product mix and higher recycling benefits.
Hindalco’s Managing Director Satish Pai said, “After the record profitability in the fourth quarter, I am pleased to share that we delivered an even stronger first quarter despite rising input costs and inflationary pressures. Our business model supports our position as an integrated aluminium producer with one of the world’s best Ebitda margins."
He added that the company’s product mix enhancement strategy was working well with the Aluminium Downstream Ebitda skyrocketing 305% YoY to Rs 158 crore, while EBITDA/tonne soared 306% YoY to $261.
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