Hindalco Industries, an Aditya Birla Group company, reported a 37 per cent decline in net profit in the March quarter at ₹2,411 crore against ₹3,851 crore in the same period last year, largely due to sharp fall in realisation.
Revenue was down at ₹55,857 crore (₹55,764 crore). The company will pay a dividend of ₹3 per share.
Upstream aluminium EBITDA dipped 41 per cent to ₹2,192 crore (₹3,742 crore) while that of downstream fell to ₹112 crore (₹140 crore). Copper EBITDA was up at ₹598 crore (₹387 crore) and that of Novelis was down 6 per cent at $403 million ($431 million) and revenue was down 8 per cent to $4.4 billion ($4.8 billion) due to lower realisation.
In the year-ended March, the company’s net profit was down at ₹10,097 crore (₹13,730 crore) while revenue jumped to ₹2.23 lakh crore (₹1.95 lakh crore).
EBITDA during the fiscal was down at ₹24,131 crore (₹30,056 crore).
Satish Pai, Managing Director, Hindalco Industries, said despite macroeconomic headwinds, Novelis has shown quarter-on-quarter recovery supported by improved product pricing and favourable product mix.
Looking ahead, a net debt-free India business and a strong balance sheet will continue to power organic growth, he said.
The company’s consolidated gross debt was at ₹58,337 crore and cash in hand was ₹24,378 crore. Net debt was down at ₹33,959 crore (₹39,096 crore).