Hindalco Industries Limited (HIL), the metals flagship company of the Aditya Birla Group, has closed financial year 2018-19 with 10 per cent decline in net profit and 13 per cent growth in net revenue on a year-on-year (y-o-y) basis.
"The world's largest aluminium rolling and recycling company has reported consolidated profit after tax (PAT) at Rs 5,495 crore in FY19 as against Rs 6,083 crore in the last fiscal, registering a decline of 10 per cent growth," HIL said in a filing to the Bombay Stock Exchange.Consolidated revenue stood at Rs 1,30,542 crore in FY19 compared to Rs 1,15,820 crore in FY18, registering a y-o-y growth of 12.71 per cent.
For the financial year 2018-19, the company posted "highest ever" consolidated operating profit (EBITDA) at Rs 16,627 crore, up 11 per cent versus Rs 15,025 crore in FY18, driven by stable operations, supporting macros and improved efficiencies.
Revenue from Indian business was up 6 per cent y-o-y at Rs 45,908 crore in the fiscal 2018-19, while PAT surges 38 per cent to Rs 2,678 crore.
During January-March quarter, PAT stood at Rs 506 crore as compared to Rs 616 crore in the same quarter last year, posting a decline of 18 per cent on the yearly basis. Revenues for Q4FY19 stood at Rs 12,455 crore versus Rs 11,687 crore in Q4FY18, representing a growth of 7 per cent over the same quarter last year.
Earnings before interest, tax, depreciation and amortization (EBITDA) for the March quarter was down 4 per cent at Rs 1,733 crore as against Rs 1,807crore in the same quarter last year.
Commenting on the results, Satish Pai, Managing Director, Hindalco Industries said, "Our FY19 consolidated profits reached an all-time high in spite of a difficult business environment. This resilient performance reflects the strength of our integrated business model, excellent operational capabilities, stable operations and our enriched product portfolio."
"Going forward, we expect the impetus provided by India's growth to boost demand for aluminium. Rising imports of aluminium and copper, however, pose a threat and we look forward to suitable steps to provide a level playing field," he added.
The company's board has recommended a dividend of 120 per cent, i.e. Rs 1.20 per equity share of face value of Rs 1 each for the financial year ended 31st March, 2019, subject to approval of the shareholders at the ensuing Annual General Meeting.
Following earnings number, Hindalco shares closed trade at Rs 194.65 apiece, up 1.99 per cent, on the Bombay Stock Exchange on Thursday.
Edited by Chitranjan Kumar
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