Hindalco Industries, an Aditya Birla Group company, reported on Friday that its consolidated net profit (including Utkal Alumina) more than doubled to ₹734 crore (₹364 crore) on the back of higher realisation and lower finance cost.

Revenue from operations was up two per cent at ₹10,670 crore (₹10,414 crore).

Finance cost was lower by 23 per cent at ₹464 crore, mainly on account of repricing of long-term debt and loan repayments made last year.

The company’s MD Satish Pai said the demand for both aluminium and copper has remained strong and is expected to register double digit growth this year.

The only concern is short supply of coal and availability of rakes, which has been pushing up the cost of operations, he added.

The company achieved its highest-ever quarterly EBITDA ) of ₹1,951 crore, up by 17 per cent on the back of higher metal prices and better byproduct realisation in the copper business.

Revenue from aluminium business was at ₹5,667 crore and EBITDA was up 35 per cent at ₹1,531 crore (₹1,132 crore) on account of better realisations. Aluminium metal production was 323,000 tonnes. Alumina (including Utkal Alumina) output was marginally lower at 695,000 tonnes (724,000 tonnes).

Revenue from copper business was down 7 per cent at ₹5,006 crore (₹5,403 crore) due to planned maintenance shutdown at one of the smelters. The realisations in the by-products such as di-ammonium phosphate and sulphuric acid were higher, leading to higher EBITDA of ₹335 crore ( ₹322 crore). The treatment and refining charges were marginally lower in the quarter under review.

Novelis’ revenues grew 16 per cent to $3.1 billion on higher average aluminium prices, higher shipments and better product mix. The total shipments of flat rolled products is up two per cent to 797,000 tonnes. It achieved the highest ever quarterly adjusted EBITDA of $332 million. Novelis’ Net Income was up 36 per cent at $137 million ($101 million).

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