Hindalco Reports 31.6% Profit Surge in Q4 FY24

Hindalco Industries, a flagship of the Aditya Birla Group, reported a 31.6% rise in consolidated net profit at Rs 3,174 crore for the March quarter. The growth was driven by stronger margins and volumes in both aluminium and copper segments. The company also maintained a strong balance sheet while repaying significant debt.

Aditya Birla Group's metal flagship Hindalco Industries on Friday reported a 31.6 per cent rise in consolidated net profit at Rs 3,174 crore for the March quarter, on the back of stronger margins and volumes across aluminium and copper business segments.

The company had posted a net profit of Rs 2,411 crore in the year-ago period, Hindalco Industries said in a filing to the BSE.

Total income during the quarter under review rose to Rs 56,356 crore over Rs 56,209 crore in the year-ago period.

''Consolidated PAT in Q4 FY24 was Rs 3,174 crore compared to Rs 2,411 crore in Q4 FY23, up by 32 per cent year-on-year,'' the company said in a statement.

Hindalco concluded the year with very strong results across all business segments. This was a clear testament to its strategic focus on value-added products and margin improvement, Hindalco Industries Managing Director Satish Pai said.

''We continue to maintain a strong balance sheet and solid liquidity even after repaying Rs 5,195 crore of debt in Hindalco India business during the year. This positions us well to stay on our growth track and drive our future organic growth plans with prudent capital allocation,'' he said.

The company's quarterly revenue from the copper business stood at Rs 13,424 crore, up 20 per cent year-on-year due to higher volumes.

Talking to media, Pai said demand for both copper and aluminium in India is very strong at present.

Replying to a question he said the company's capex for the ongoing fiscal is Rs 6,000 crore and Hindalco plans to spend this amount on copper recycling project and alumina refinery in Odisha among others.

In a filing, the company said its board has approved acquisition of fabrication facility of Home Build Tech India (HBT) by entering into a binding memorandum of understanding.

''The acquisition shall be effectuated through a special purpose vehicle... as part of the transaction,'' it said.