Hindalco Posted All-Time High Profit in Q3

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Hindalco Posted All-Time High Profit in Q3
10 Feb 2022
5 min read

News Synopsis

Hindalco recently released its quarter three earnings. Their profit rose by 96% which amounts 3,675 crores. This is the highest profit ever reported by the company. Consolidated EBITDA (Earnings Before Interest, Tax, Depreciation and Smortisation) during the quarter stood at ₹7,624 crores, rising 38% year-on-year. Hindalco MD Satish Pai, after the release of the result, said: “Our sustained performance and strong balance sheet are driving our plans for further organic capex. We have already announced over ₹3,000 crore investments in our downstream pipeline – Hirakud and Silvassa, and the acquisitions of Ryker and Hydro’s Kuppam units. Novelis too has announced capital projects that align market growth with sustainability considerations. An example is the $365 million closed-loop recycling and casting center for the North American market”. Revenue from operations was ₹50,272, which is 44% more than what is posted in the same quarter of the last fiscal year.

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