Hindalco Q2 results FY22: Net profit surges 788% at Rs 3,417 cr
Hindalco Industries Limited recorded its highest ever consolidated net profit with a 783% surge in Q2 FY22 at Rs 3,417 crore. The firm recorded a net profit of Rs 387 crore in the previous year. Consolidated revenue for the second quarter reached Rs 47,665 crore (compared to Rs 31,237 crore), increasing by 53% YoY. Managing Director, Hindalco Industries, Satish Pai, told the media that their record-breaking performance this quarter is an affirmation of their completely integrated business model, which powers their performance in both upstream and downstream markets. Hindalco recorded extraordinary achievements across all business sectors: Indian Aluminium Business set a near global industry record by attaining an EBITDA margin of 42%. Copper Business delivered the highest-ever quarterly sales in Q2, with both smelters operating optimally to match the strong market demand. Novelis once again attained a record EBITDA per ton driven by higher volumes and convenient metal costs. The results were driven by an exceptional performance by Novelis and India business, backed by strategic product mix, favourable macros, higher volumes and stability in operations. Their product-rich portfolio strategy proceeds to deliver results across different market scenarios. It supports them to keep developing the downstream asset base and grow their market footprint. The recent Ryker copper rod unit purchase is in keeping with our downstream capex (capital expenditure) plans declared earlier this year. They additionally continue to drive their ESG (environment, social and governance) agenda and aims to meet their sustainability Capexn on net neutrality, water positivity, zero discharge and more. Image Source
Also read: Hindalco Q1FY22 results: Consolidated profit at Rs 2,787 cr
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