Hindalco Industries, an Aditya Birla Group company, reported 96 per cent increase in net profit in the December quarter at ₹3,675 crore against ₹1,877 crore in the same period last year, on the back of higher realisation.

Revenue from operations was up 44 per cent at ₹50,272 crore (₹34,958 crore).

EBITDA increased 38 per cent to ₹7,624 crore (₹5,521 crore) though it fell five per cent compared to ₹8,048 crore logged in September quarter.

While EBITDA of its US subsidiary Novelis was flat at ₹3,792 crore (₹3,711 crore) year-on-year, the same of aluminium hit an all-time high at ₹3,376 crore (₹1,461 crore) and that of copper was at ₹390 crore (₹240 crore).

Aluminium production was higher at 3.27 lakh tonnes (3.15 lt) and sales were up 3 per cent at 3.25 lt (3.15 lakh tonnes). Sales volume of aluminium value added products increased 8 per cent to 86,000 tonnes (80,000 tonnes), driven by recovery of the domestic market.

Net debt of the company reduced to ₹43,733 crore (₹53,802 crore).

Surge in demand

Satish Pai, Managing Director, Hindalco Industries, said the company foresees a surge in aluminium and copper demand and is well-positioned to tap the.growing demand with planned investment of ₹825 crore under the Government’s Production Linked Incentive scheme.

Hindalco has already announced over ₹3,000-crore investments in downstream projects at Hirakud and Silvassa, and the acquisitions of Ryker and Hydro’s Kuppam units.

Novelis also plans to invest $365 million in closed-loop recycling and casting centre in North America.