Hindalco Industries Q1 profit surges 253%

Revenue from operations up 76%

Key Highlights:

• Consolidated net profit at Rs. 3074 crore, up 252.6%
• Revenue from operations at Rs. 57013 crore, up 76%
• Aluminium upstream EBITDA per tonne at $1273, up 84% with margins of 40%

Mumbai: KM Birla-promoted Hindalco Industries on Tuesday reported a 253% rise in consolidated net profit for the quarter ended June 30, 2024, driven by higher revenue from operations and improved margins in its aluminium business.

The company's revenue from operations increased 76% to Rs. 57,013 crore in the June quarter, compared to Rs. 32,385 crore in the same period last year.

Hindalco's aluminium upstream business, which includes mining, refining, and smelting, saw a strong performance with EBITDA per tonne increasing by 84% to $1273. The segment's margins also improved to 40%, compared to 28% in the previous year.

The company's copper business also performed well, with revenue from operations increasing by 21% to Rs. 11,047 crore. However, the segment's EBITDA declined by 13% due to lower metal prices.

Overall, Hindalco's financial performance in the first quarter was strong, reflecting the company's focus on operational efficiency and cost optimization. The company's stock price rose by over 3% in early trading on Tuesday following the announcement of its results.