Hindalco Q2 Results: Consolidated net profit falls 36% to Rs 2,205 crore in September quarter
Hindalco Q2 Results: Hindalco Industries sales rose 17.86 per cent to Rs 56,176.00 crore in the quarter ended September 2022 as against Rs 47,665.00 crore in the year-ago period.
- Nov 11, 2022,
- Updated Nov 11, 2022 4:22 PM IST
Hindalco Industries on Friday said that its consolidated net profit slumped 35.5 per cent in the July to September quarter of FY23 and was at Rs 2,205 crore. In its filing, the company said its revenue from operations jumped around 18 per cent year-on-year to Rs 56,176 crore. It had earned a profit of Rs 3,427 crore in the September quarter a year ago due to a sharp decline in aluminium prices and rising input costs.
It earned Rs 4,119 crore in the April-June period, its highest-ever quarterly profit.
Hindalco Industries sales rose 17.86 per cent to Rs 56,176.00 crore in the quarter that ended September 2022 as against Rs 47,665.00 crore in the year-ago period.
Brokerage Motilal Oswal had predicted that Hindalco Industries would see a 33.1 per cent YoY fall in net profit at Rs 2,306.40 crore for the September quarter on a 5.1 per cent YoY rise in sales at Rs 50,077.50 crore.
| Consolidated | Consolidated | |
| Particulars | Q2FY22 | Q2FY23 |
| Net Sales | 47,665 | 56,176 |
| EBITDA | 8,045 | 5,743 |
| PAT | 3,417 | 2,205 |
(Rs In Crores)
Its net debt to EBITDA was at a strong 1.47x as of September 30, 2022 as compared to 1.93x on September 30, 2021.
“Over the years, Hindalco has transitioned to a resilient and integrated business model which supports our performance and profitability even when times are challenging and hence despite a surge in input costs, the company produced the highest-ever aluminium metal volumes," managing director Satish Pai said.
Business Segment Performance in Q2 FY23
- Novelis
Novelis delivered another solid quarter with higher shipments driven by a recovery in automotive and aerospace segments and better pricing.
As per the company filing, total shipments of flat rolled products were at 984 Kt in Q2 FY23 as compared to 968 Kt in Q2 FY22, up 2 per cent Y-o-Y, driven by a recovery in automotive and aerospace shipments.
Novelis’ revenue in Q2 FY23 stood at $4.8 billion compared to $4.1 billion in Q2 FY22, up 17 per cent YoY, primarily because of higher volumes, increased product pricing, favourable mix and higher average aluminium prices.
Novelis continued to report an EBITDA of over $500 million, which was down 8 per cent from $506 million in Q2 FY23, despite higher inflationary pressures and other operating costs and an unfavourable foreign exchange translation, partially offset by higher product pricing, higher volumes and favourable product mix.
- Aluminium
The upstream revenue was Rs 8,215 crore in Q2 FY23, up by 11 per cent Y-o-Y in comparison to Rs 7,421 crore in the prior year period. Aluminium Upstream EBITDA stood at Rs 1,347 crore in Q2 FY23, which was down by almost 57 per cent from Rs 3,128 crore for Q2 FY22, due higher input costs and unfavourable macros. Upstream EBITDA margins were at 16.4 per cent and continue to be one of the best in the global industry.
Hindalco Industries on Friday said that its consolidated net profit slumped 35.5 per cent in the July to September quarter of FY23 and was at Rs 2,205 crore. In its filing, the company said its revenue from operations jumped around 18 per cent year-on-year to Rs 56,176 crore. It had earned a profit of Rs 3,427 crore in the September quarter a year ago due to a sharp decline in aluminium prices and rising input costs.
It earned Rs 4,119 crore in the April-June period, its highest-ever quarterly profit.
Hindalco Industries sales rose 17.86 per cent to Rs 56,176.00 crore in the quarter that ended September 2022 as against Rs 47,665.00 crore in the year-ago period.
Brokerage Motilal Oswal had predicted that Hindalco Industries would see a 33.1 per cent YoY fall in net profit at Rs 2,306.40 crore for the September quarter on a 5.1 per cent YoY rise in sales at Rs 50,077.50 crore.
| Consolidated | Consolidated | |
| Particulars | Q2FY22 | Q2FY23 |
| Net Sales | 47,665 | 56,176 |
| EBITDA | 8,045 | 5,743 |
| PAT | 3,417 | 2,205 |
(Rs In Crores)
Its net debt to EBITDA was at a strong 1.47x as of September 30, 2022 as compared to 1.93x on September 30, 2021.
“Over the years, Hindalco has transitioned to a resilient and integrated business model which supports our performance and profitability even when times are challenging and hence despite a surge in input costs, the company produced the highest-ever aluminium metal volumes," managing director Satish Pai said.
Business Segment Performance in Q2 FY23
- Novelis
Novelis delivered another solid quarter with higher shipments driven by a recovery in automotive and aerospace segments and better pricing.
As per the company filing, total shipments of flat rolled products were at 984 Kt in Q2 FY23 as compared to 968 Kt in Q2 FY22, up 2 per cent Y-o-Y, driven by a recovery in automotive and aerospace shipments.
Novelis’ revenue in Q2 FY23 stood at $4.8 billion compared to $4.1 billion in Q2 FY22, up 17 per cent YoY, primarily because of higher volumes, increased product pricing, favourable mix and higher average aluminium prices.
Novelis continued to report an EBITDA of over $500 million, which was down 8 per cent from $506 million in Q2 FY23, despite higher inflationary pressures and other operating costs and an unfavourable foreign exchange translation, partially offset by higher product pricing, higher volumes and favourable product mix.
- Aluminium
The upstream revenue was Rs 8,215 crore in Q2 FY23, up by 11 per cent Y-o-Y in comparison to Rs 7,421 crore in the prior year period. Aluminium Upstream EBITDA stood at Rs 1,347 crore in Q2 FY23, which was down by almost 57 per cent from Rs 3,128 crore for Q2 FY22, due higher input costs and unfavourable macros. Upstream EBITDA margins were at 16.4 per cent and continue to be one of the best in the global industry.