Hindalco PAT hikes 95.7% to Rs 3,675 cr in Dec quarter FY21
Steel

Hindalco PAT hikes 95.7% to Rs 3,675 cr in Dec quarter FY21

Aditya Birla Group's metals flagship, Hindalco Industries Ltd, announced a 95.7% boost in consolidated profit after tax (PAT) to Rs 3,675 crore for the quarter of December 31, 2021.

The boost in PAT was caused by focusing on downstream value-added products, including better-operating efficiencies.

The firm reported a consolidated PAT of Rs 1,877 crore, and in October-December 2021 increased to Rs 50,272 crore, compared with Rs 34,958 crore in the year-ago period.

The firm revealed that PAT in Q3 FY22 increased to a record Rs 3,675 crore compared to Rs 1,877 crore in Q3 FY21, a 96% jump year-over-year (YoY).

Its consolidated revenue for the third quarter stood at Rs 50,272 crore, a jump of 44% from Rs 34,958 crore.

In Q3 FY22, the company reported its highest net profit surpassing all previous quarterly performances.

The results were driven by a consistent performance by Novelis, a leading producer of flat-rolled aluminium products and by Indian businesses, backed by strategic product mix and enhanced performance by the downstream business, and profitable macros.

Satish Pai, Hindalco Industries Managing Director, told the media that the firm has already proposed more than Rs 3000 crore worth of investments in their downstream pipeline Hirakud and Silvassa, and the Ryker and Hydro's Kuppam units acquisitions.

Novelis has also announced capital projects that align sustainability considerations and market development.

Pai gave an example of a $365 million closed-loop recycling and casting centre for the North American market. He said the company expects a surge in aluminium and copper demand.

Image Source

Also read: Hindalco signs deal with Norsk Hydro for Rs 247 cr aluminium business

Aditya Birla Group's metals flagship, Hindalco Industries Ltd, announced a 95.7% boost in consolidated profit after tax (PAT) to Rs 3,675 crore for the quarter of December 31, 2021. The boost in PAT was caused by focusing on downstream value-added products, including better-operating efficiencies. The firm reported a consolidated PAT of Rs 1,877 crore, and in October-December 2021 increased to Rs 50,272 crore, compared with Rs 34,958 crore in the year-ago period. The firm revealed that PAT in Q3 FY22 increased to a record Rs 3,675 crore compared to Rs 1,877 crore in Q3 FY21, a 96% jump year-over-year (YoY). Its consolidated revenue for the third quarter stood at Rs 50,272 crore, a jump of 44% from Rs 34,958 crore. In Q3 FY22, the company reported its highest net profit surpassing all previous quarterly performances. The results were driven by a consistent performance by Novelis, a leading producer of flat-rolled aluminium products and by Indian businesses, backed by strategic product mix and enhanced performance by the downstream business, and profitable macros. Satish Pai, Hindalco Industries Managing Director, told the media that the firm has already proposed more than Rs 3000 crore worth of investments in their downstream pipeline Hirakud and Silvassa, and the Ryker and Hydro's Kuppam units acquisitions. Novelis has also announced capital projects that align sustainability considerations and market development. Pai gave an example of a $365 million closed-loop recycling and casting centre for the North American market. He said the company expects a surge in aluminium and copper demand. Image Source Also read: Hindalco signs deal with Norsk Hydro for Rs 247 cr aluminium business

Next Story
Resources

Madhya Pradesh Champions Inclusive Tourism at Heritage Sites

On the occasion of World Heritage Day, Madhya Pradesh is taking a significant step toward inclusive tourism by making its historical sites accessible to all — especially persons with disabilities. The state is rolling out its ‘Accessibility Infrastructure and Development’ project at Maheshwar, Mandu, Dhar, and Orchha, aiming to create a more welcoming experience at these iconic cultural destinations.The initiative, under the leadership of Chief Minister Dr Mohan Yadav and Tourism Minister Shri Dharmendra Bhav Singh Lodhi, includes infrastructure upgrades such as ramps, Braille signage, w..

Next Story
Resources

Runwal Realty Onboards Sonam Kapoor as Brand Ambassador

Real estate major Runwal has unveiled a refreshed identity as Runwal Realty, signalling a renewed commitment to crafting spaces that stand the test of time. With this refresh, the brand unveils its new philosophy: “Building for Generations to Come” and welcomes Bollywood star and global fashion icon Sonam Kapoor as its brand ambassador. This evolved identity reflects Runwal Realty’s commitment to creating not just homes, but heirlooms—crafted through visionary design, meticulous planning, global design expertise and an unwavering focus on quality. With the customer at its core, each de..

Next Story
Infrastructure Urban

Emerging Trends in Infrastructure and Transport 2025: KPMG

KPMG’s latest report, The Great Reset: Emerging Trends in Infrastructure and Transport 2025 edition, sheds light on the profound changes transforming the global infrastructure landscape. As industries adapt to the challenges posed by climate change, economic pressures, and technological advancements, the report identifies key trends and provides actionable insights for leaders in infrastructure and transport sectors. “In today’s interconnected world, the lack of standardized supply chain practices is not just an operational challenge—it’s an environmental and economic one. We’..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?