Hindalco Q2 Results: PAT grows to Rs 3,417 cr

On a sequential basis, consolidated PAT rose by 23 percent.

The consolidated revenue stood at Rs 47,665 crore, up 53 percent from Rs 31,237 crore in the same quarter in FY21.

The revenues grew by 15 percent against Rs 41,358 crore posted in the previous quarter.

The results were driven by an outstanding performance by Novelis as well as India business, supported by a sharp recovery in all relevant markets, and improved macros and higher volumes, the company said.

“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, while commenting on the strong performance of the company.

Aluminium India Business had metal production of 322 kilo tonnes (Kt) against 307 Kt in the same period last year.

Sales were higher by 12 percent y-o-y at 338 Kt vs 303 Kt in the prior year.

The India aluminium business garnered revenues of Rs 7,812 crore in the quarter under review which were 63 percent more than Rs 4,796 crore reported in Q2FY21.

EBITDA surged 173 percent y-o-y to Rs 3,247 crore in the second quarter compared to Rs 1,188 crore in the same period last year.

EBITDA margins of jumped 42 percent which are among the best in the industry, the company said.

Further, the copper business reported a 47 percent increase in sales in Q2FY22 at 110 Kt againt 75 Kt in the same period last year.

Revenue jumped 101 percent to Rs 9,587 crore driven by high copper prices globally.

EBITDA improved 45 percent to Rs 352 crore compared to Rs 242 crore in Q2 FY21.