Hindalco Industries Q3 Results 2023: Consolidated net profit down 63% to Rs 1,362 crore despite jump in revenue

Hindalco Industries Q3 Results 2023: Metal major Hindalco Industries Limited on Thursday reported a consolidated net profit of Rs1,362 crore for the quarter ended 31 December 2023, down 63 per cent year-on-year despite a 6 per cent YoY jump in Rs 53,151 crore.  The results were announced during market hours.

Hindalco shares were trading at Rs 445.40, up by Rs 8.90 or 2.04 per cent.

Hindalco Q3 Results 2023 Highlights

-- Consolidated revenue at ₹53,151 crore, up 6% YoY ▪ Quarterly 

-- Quarterly consolidated EBITDA at ₹3,930 crore, down 48% YoY

-- Record total shipments of India primary aluminium at 349Kt (vs 345Kt) up 1% YoY

-- Aluminium Upstream EBITDA at ₹1,591 crore with EBITDA margins at 19.8%

-- Aluminium Downstream EBITDA at ₹157 crore, up 24% YoY; EBITDA per ton at $210, up 7% YoY

-- Quarterly Copper EBITDA at ₹546 crore, up 40% YoY; All-time high copper rod sales at 88 Kt, up 24% YoY

-- Novelis Adjusted EBITDA* at $341 million ($506 million) down 33% YoY

-- Consolidated Net Debt to EBITDA at 1.60x as of December 31, 2022 vs 1.62x as of December 31, 2021

-- Hindalco in S&P Global Sustainability Yearbook 2023 for the second consecutive year