Aditya Birla Group’s Hindalco Industries Ltd on Thursday posted a 99.7 per cent rise in its consolidated profit after tax at Rs 3,851 crore for the quarter ended March, 2022.
According to the company, the results were driven by an exceptional performance by the India business, supported by favorable macros, strategic product mix and an improved performance by the downstream business.
“Hindalco Industries Limited, the Aditya Birla Group metals flagship, has outperformed financially and operationally, reporting its highest ever quarterly net profit in Q4 FY22. The company’s consolidated PAT (Profit After Tax) peaked to a record-high of Rs 3,851 crore, a 100 per cent growth YoY,” Hindalco Industries said in a statement the company had posted a consolidated PAT of Rs 1,928 crore in the year-ago quarter, Hindalco Industries said in a BSE filing.
Its consolidated revenue from operations during January-March quarter increased to Rs 55,764 1 crore as against Rs 40,507 crore in the same quarter of FY21, the filing said.
Satish Pai, managing director, Hindalco Industries, said, “With record profitability in the fourth quarter, we had a very good end to the year. We attribute Hindalco’s highest-ever profits not just to strong macros, but also our consistent focus on operational excellence and cost optimization.
“We continue to remain one of the world’s lowest cost and highest EBITDA margin producers of aluminum.” The company’s strategy to build a more sustainable business model that is isolated from metal cycles is working very well for it, he said.
In line with this, the company have allocated over 70 per cent of its growth capex to value-enhancing downstream segments, he said, adding that all growth capex of Hindalco Industries for the next five years will be funded out of internal accruals.
“Our growth strategy will continue to be shaped by our 2050 ESG goals – achieving net zero in carbon emissions, effluent discharge, biodiversity loss and waste to landfill. To sum up, Hindalco sees a positive horizon which inspires us to invest in future-centric growth projects,” Pai added. PTI SID HVA
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