Hindalco Industries Q1FY23 Results: Profit rises 47.7% to Rs 4,119 cr; stock jumps over 5%

Hindalco Industries Ltd on Wednesday reported a 47.7 per cent rise in consolidated profit after tax (PAT) at Rs 4,119 crore for the quarter ended June 30, on the back of strong operational efficiencies.

The company had posted a consolidated PAT of Rs 2,787 crore in the year-ago period, Hindalco Industries, the metals flagship of Aditya Birla Group, said in a regulatory filing.

The company's revenue from operations in the April-June period increased to Rs 58,018 crore, over Rs 41,358 crore in the year-ago period.

"Our performance was backed by strong operational efficiencies and pre-emptive sourcing of critical raw material, thus ensuring stable operations and higher margins," company's Managing Director Satish Pai said.

Pai said that the company delivered a stronger first quarter in spite of rising input costs and inflationary pressures.

The company's revenue from the copper business in the first quarter increased by 48 per cent to Rs 10,529 crore mainly on account of higher global prices of copper and higher volumes.

Shares of Hindalco Industries were trading at Rs 443.35 apiece on BSE, up 5.20 per cent over the previous close.

With PTI Inputs