Business

Hindalco Q4 profit doubles to ₹3,851 crore

 Satish Pai

Satish Pai | Photo Credit: PAUL NORONHA

Hindalco Industries Ltd said its quarterly consolidated net profit doubled to ₹3,851 crore from the year-earlier period.

Consolidated revenue rose 38% to ₹55,764 crore, the company said in a press release.

For the full financial year (FY21-22) net profit rose fourfold to ₹13,730 crore.

Revenue for the year at ₹1,95,059 crore was far higher than ₹1,31,985 crore in the year-earlier period.

Its subsidiary Novelis reported net income of $217 million in the quarter, up 21% YoY.

India business Q4 net profit surged more than fourfold to ₹2,004 crore.

The company’s consolidated net debt to EBITDA was lower at 1.36x as of 31 March, 2022 as compared to 2.59x as of 31 March, 2021.

The board has recommended a dividend of ₹4 a share for FY22 as against ₹3 a share for FY21, the company said.

“With record profitability in the fourth quarter, we had a very good end to the year,” Satish Pai, Managing Director, Hindalco Industries, said. “We attribute Hindalco’s highest-ever profits not just to strong macros, but also our consistent focus on operational excellence and cost optimisation.”

“We continue to remain one of the world’s lowest cost and highest EBITDA margin producers of aluminium,” he said.

“Our strategy to build a more sustainable business model that is isolated from metal cycles is working very well for us. In line with this, we have allocated over 70% of our growth capex to value-enhancing downstream segments. All our growth capex for the next five years will be funded out of internal accruals,” he added.


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Printable version | May 26, 2022 11:30:39 pm | https://www.thehindu.com/business/hindalco-q4-profit-doubles-to-3851-crore/article65464573.ece