Hindalco Q2 Consolidated PAT surges 783% to Rs 3,417 cr
Published On: Friday, November 12, 2021 | By: Team KnowMyStock
Hindalco Industries, the metals flagship company of the Aditya Birla Group on Friday reported a 783 percent year-on-year (YoY) rise in consolidated net profit at Rs 3,417 crore, for the September quarter (Q2FY22), when compared with ₹387 crores in the corresponding quarter of last year. On a sequential basis, consolidated PAT increased by 23 percent consolidated revenue for the second quarter stood at Rs 47,665 crore (vs Rs 31,237 crore), up 53% YoY. The revenues in this quarter are up 15 percent against Rs. 41,358 crore was reported in the previous quarter. The company has also posted its all-time high Consolidated EBITDA (Earnings before interest, tax, depreciation, and amortization) at ₹8,048 crores, up 56% year-on-year.
“Our record-breaking performance this quarter is an affirmation of our fully integrated business model, which powers our performance in both upstream and downstream markets,” said Satish Pai, managing director at Hindalco Industries. The results were driven by an exceptional performance by Novelis and India business, supported by favorable macros, strategic product mix, higher volumes, and stability in operations, Hindalco said in a filing."Our product-rich portfolio strategy continues to deliver results across diverse market scenarios. It encourages us to keep building the downstream asset base and expand our market footprint.
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