Hindalco posts strong results on healthy realizations

Hindalco reported healthy quarterly numbers with robust revenue due to strong traction in metal prices. Further, its US subsidiary also recorded 92 per cent jump in net profit for the quarter.

The revenue for the quarter rose by 11.2 per cent yoy and 6.9 per cent qoq to Rs. 11,022 crore in Q3FY18. This was largely aided by strong volumes in aluminium and copper business. The aluminium revenue grew by 8.2 per cent yoy to Rs. 5,323 crore in Q3FY18 as against Rs. 4,916 crore in previous year corresponding quarter.

The EBITDA for the quarter also reported 10.7 per cent yoy jump, while EBITDA margin for the quarter remained unchanged at 11.9 per cent. However, adjusted bottom-line for the quarter reported jump 39.4 per cent yoy and 13.8 per cent qoq to Rs. 446 crore. Aluminium EBITDA reported 7 per cent yoy growth to Rs. 940 crore and copper EBITDA posted 28 per cent yoy to Rs. 421 crore.

Hindalco’s US subsidiary Novelis saw net profit for the quarter jump 92 per cent yoy to US$ 121 million. The stock is currently trading at Rs. 249 mark down by 2.72 per cent