Hindalco Industries Ltd.’s reported a strong quarterly profit for the quarter ended on December 31 due to higher realisations. The Aditya Birla Group company said that the net profit for the Q3 FY19 stood at Rs. 713 crores, posting a 47.3 per cent year-on-year surge.
The company, which also included the Utkal Alumina unit numbers in the report, said that the total revenue during the quarter under review stood at Rs 11,938 crores, registering an 8 per cent YoY growth. The operating income or EBITDA for the same quarter increased 3 per cent from the year-ago period to Rs 1,926 crores.
However, Hindalco Industries in its exchange filing reported that the operating margin contracted 80 basis points to 16.1 per cent. The company’s standalone operating profit also fell 26 per cent to Rs 1,201 crores during the quarter under discussion.
Hindalco in a press release said, “Rising aluminium and copper imports in India continue to impact the domestic market.” According to the Hindalco statement, Aluminium Ebitda increased 8.3 per cent (YoY) to Rs 1,286 crores whereas copper Ebitda rose 2.3 per cent (YoY) to Rs 431 crores.