Companies

Hindalco net down 33 per cent on lower realisation

Our Bureau Mumbai | Updated on November 11, 2019 Published on November 11, 2019

Hindalco Industries, an Aditya Birla Group company, has reported that its consolidated net profit in September quarter including that of Utkal Alumina was down 33 per cent at Rs 974 crore against Rs 1,448 crore registered last year due to lower realisation.

Revenue in the quarter under review was plunged nine per cent to Rs 29,657 crore (Rs 32,507 crore). EBITDA dipped eight per cent to Rs 3,918 crore against Rs 4,276 crore logged in same period last year.

Alumina (including Utkal) production was down 6.67 lakh tonnes against 7.01 lakh tonnes logged last year while aluminium output was up marginally at 3.30 lakh tonnes (3.26 lakh tonnes)

Aluminium sales

Revenue from aluminium business was down at Rs 5,526 crore (Rs 6,135 crore) due to lower realisations. EBITDA in aluminium business was lower by 38 per cent to Rs 849 crore (Rs 1,368 crore).

Global demand for aluminium so far this year declined 0.2 peer cent against growth of 4 per cent due to global industrial slowdown and subdued Chinese demand. Market is likely to remain in deficit of 1.2 tonnes in this year against deficit of 1.3 tonnes last year.

In Q2 this fiscal, aluminium domestic demand declined 6 per cent to 9.67 lakh tonnes. Imports including scrap declined by eight per cent against growth of 25 per cent in same period last fiscal.

The Copper production was up five per cent at 82,000 tonnes. Revenue from copper business was down Rs 4,449 crore (Rs 4730 crore).

Published on November 11, 2019
This article is closed for comments.
Please Email the Editor