Hindalco Q4 profit doubles to ₹3,851 crore

Revenue rises 38% to ₹55,764 crore

May 26, 2022 09:26 pm | Updated 09:37 pm IST - Mumbai

 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.

Top News Today

Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.