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Hindalco Q2 Results: Net profit increases 9 times to Rs 3,417 crore, revenue up 53%

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Aditya Birla group company Hindalco Industries' quarterly revenue grew 52.6 percent on a year-on-year basis to Rs 47,665 crore.

Hindalco Q2 Results: Net profit increases 9 times to Rs 3,417 crore, revenue up 53%
Aditya Birla group company Hindalco Industries reported a consolidated net profit of Rs 3,417 crore for the quarter ended September. The Mumbai-based metal company had reported a net profit of Rs 387 crore for the corresponding period a year ago.
Its consolidated revenue came in at Rs 47,665 crore for the three months to September 30, an increase of 52.6 percent on a year-on-year basis.
Hindalco's earnings before interest, taxes, depreciation and ammortisation (EBITDA) from the copper business was at Rs 352 crore in the July-September period, according to a regulatory filing.
The copper EBITDA had stood at Rs 261 crore in the quarter ended June 2021, and Rs 208 crore in the three months to September 2020.
EBITDA from the aluminium business jumped to Rs 3,247 crore in the second quarter of the current financial year, from Rs 2,352 crore in the previous three months, and Rs 1,066 crore in the July-September period last year.
Analysts in a CNBC-TV18 poll had predicted the company's quarterly EBITDA from the copper business at Rs 290 crore and that from its aluminium operation at Rs 2,870 crore.
The company's consolidated net debt stood at Rs 48,011 crore at the end of the September quarter, as against Rs 58,001 crore as of the corresponding period a year ago.
Hindalco shares extended intraday gains after the earnings announcement. The stock was among the top three gainers in the Nifty50 pack.
At 2:45 pm, the stock was up 3.6 percent at Rs 470 apiece on BSE. The 30-scrip Sensex index was up 1.3 percent at the time, on track to break a three-day losing spree.
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