Hindalco Industries, an Aditya Birla Group company, has reported that its net profit in the December quarter was up 63 per cent at ₹3,735 crore on back of better realisations.
Revenue increased 11 per cent to ₹58,390 crore and EBITDA was up 28 per cent at ₹8,108 crore (₹6,322 crore).
Satish Pai, Managing Director, Hindalco Industries said the Aluminium upstream business EBITDA in India hit a record with 42 per cent growth in margin while the same for the downstream segment was up 36 per cent.
Copper business
The copper business delivered a robust growth of 18 per cent in EBITDA. The business marked a significant milestone by achieving the ‘Copper Mark-JDDS’ for its responsible and sustainable production practices, he added.
Revenue from upstream domestic aluminium business was up 25 per cent at ₹9,993 crore with 73 per cent jump in EBITDA at ₹4,222 crore. Aluminium upstream EBITDA per tonne was at $1,480, up 68 per cent.
Downstream aluminium revenue was up 25 per cent at ₹3,195 crore. Sales of downstream Aluminium at 99,000 tonne increased 10 per cent, while EBITDA per tonne was up 22 per cent at $179.
Revenue from domestic copper business was up 15 per cent at ₹13,732 crore, while EBITDA increased 18 per cent to ₹777 crore. Copper metal and Continuous Cast Rod sales were up one per cent at 1.20 lakh tonne and 95,000 tonne. Hindalco had secured Meenakshi coal mines with an annual capacity of 12 million tonnes, boosting resource security.
The company has appointed Bharat Goenka as the chief financial officer following the resignation of Praveen Kumar Maheshwari. Goenka who is now designated as CFO-designate will takeover as CFO from April 1.
Hindalco plans to add 100 MW of hybrid capacity with storage facility in the first of this year. The commissioning of this project will take the overall green energy capacity of the company to 300 MW.
Net debt of the company increased to ₹41,818 crore against ₹36,033 crore in September quarter.