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Hindalco reports 38% rise in Q4 standalone net profit; beats street estimates

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Hindalco Industries on Friday reported a 38.1 percent rise in standalone net profit at Rs 326 crore for the quarter ended March 2020  as against Rs 236 crore in the same period last year. Net profit beat CNBC-TV18 analysts' poll estimates of Rs 217 crore.

Hindalco reports 38% rise in Q4 standalone net profit; beats street estimates
Hindalco Industries on Friday reported a 38.1 percent rise in standalone net profit at Rs 326 crore for the quarter ended March 2020  as against Rs 236 crore in the same period last year. Net profit beat CNBC-TV18 analysts' poll estimates of Rs 217 crore.
Standalone revenue during Q4FY20 declined 19.2 percent to Rs 9,992 crore from Rs 12,373 crore, YoY.
However, on a consolidated basis, net profit dropped 43.29 percent to Rs 668 crore from Rs 1,178 crore in the corresponding quarter last year. Consolidated revenue fell 13.11 percent to Rs 29,318 crore during the quarter under review.
EBITDA rose 26.4 percent to Rs 1,141 crore from Rs 903 crore while EBITDA margin improved by 410 bps to 11.4 percent, YoY.
“We attribute our strong fourth-quarter results to our sustained focus on cost control and better efficiencies, as well as, our proactive and precautionary measures during the pandemic. Our EBITDA margins were the best in the industry despite significant market uncertainty," said Satish Pai, Managing Director, Hindalco Industries Ltd.
Hindalco's subsidiary Novelis reported 12 percent YoY fall in revenue at $2.7 billion in Q4FY20, mainly driven by lower average global aluminum prices and local market premiums.
Total shipments of flat-rolled products (FRPs) were at 811 Kt, in Q4FY20, lower by 7 percent year-on-year, the company said in a regulatory filing.
The aluminum business reported revenue of Rs 5,284 crore as against Rs 5,953 crore in Q4FY19, down 11 percent due to low aluminum prices. Stable operations in the Indian Aluminium Business helped achieve aluminum metal production of 327 Kt, up 2 percent year-on-year, the company added.
The segment’s EBITDA rose 3 percent to Rs 1,039 crore while EBITDA margin stood at 20 percent.
Copper business revenue was at Rs. 4,717 crore, lower by 28 percent YoY due to lower realizations and volumes. Total copper metal sales were lower by 14 percent, at 86 Kt in Q4FY20 impacted by the lockdown effect in March 2020.
Copper business EBITDA rose 9 percent to Rs 406 crore as compared to Rs 373 crore in the same period last year.
On Friday, shares of Hindalco Industries ended 1.14 percent higher at Rs 146.10 on the BSE.

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