Hindalco's fourth-quarter profit doubles to Rs 3,851 crore, with sales up 38 percent year on year

Hindalco Industries NSE 1.18 percent reported a tripling of consolidated earnings in the March quarter, to Rs 3,851 crore, a record high for any period, compared to Rs 1,928 crore the previous quarter.

Consolidated revenue for the fourth quarter increased by 38% to Rs 55,764 crore, up from Rs 40,507 crore in the previous quarter.

Ebitda for the quarter increased by 30% year on year to Rs 7,597 crore from Rs 5,845 crore. Positive macros and a focus on downstream value-added products, as well as improved operating efficiencies, drove the company's results, according to a BSE filing.

As of March 31, 2022, the company's consolidated net debt to Ebitda ratio was 1.36 times, compared to 2.59 times as of March 31, 2021.

Novelis' net income from continuing operations increased by 21% year over year to $217 million. "With record profitability in the fourth quarter, we had a very excellent close to the year," stated Satish Pai, Managing Director of Hindalco Industries. Hindalco's highest-ever profits may be attributed not only to excellent macroeconomic conditions, but also to our constant focus on operational excellence and cost reduction. We continue to be one of the lowest-cost and highest-Ebitda-margin aluminium producers in the world."

Novelis' net income increased throughout the quarter, owing to lower interest expenses. Novelis' revenue increased 34% year over year to $4.8 billion from $3.6 billion, owing to higher worldwide aluminium prices. Total flat-rolled product (FRP) shipments increased to 9,87,000 tonnes from 9,83,000 tonnes in Q4 FY21.