Hindalco Industries , an Aditya Birla Group company, reported 26 per cent increase in March quarter net profit at ₹503 crore against ₹400 crore logged in the same period last year, largely due to better realisations. Revenue from operations were up 27 per cent at ₹11,747 crore (₹9,263 crore).

While the company's revenue from the aluminium business grew 9 per cent at ₹5,548 crore, its copper business revenue for the quarter stood at ₹6,202 crore, increasing by almost 48 per cent since the same quarter last year.

Earnings before interest, tax, depreciation and amortisation were up 13 per cent at ₹1,570 crore (₹1,387 crore).

The company raised $500 million through qualified institutional placement and divested stake in its copper mine in Australia last fiscal.

Novelis, the US subsidiary company, sold 50 per cent stake in its Ulsan plant in South Korea to Kobe Steel for $315 million. Satish Pai, Managing Director, Hindalco Industries, said environmental and supply side restrictions in China is putting about 4 million tonnes of smelting capacity at risk with significant delay in under-construction projects. This is expected to drive LME higher in coming day as aluminium prices have already shot up to $1902 a tonne in March, from $1666 a tonne in October, he said. Good demand and lower inventory is expected to drive aluminium benchmark prices on LME (London Metal Exchange), he added.

The company registered record aluminium production of 12.66 lakh tonnes and 28.86 lakh tonnes of alumina.

Consolidated revenue in the fiscal ended March was up 7 per cent at ₹39,383 crore while net profit more than doubled to ₹1,557 crore (₹552 crore). Ebitda for the fiscal year stood at a record ₹13,558 crore, up 36 per cent compared to the previous year, supported by stable operations across businesses.

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