Aditya Birla Group firm Hindalco Industries on Monday reported a 78 per cent rise in consolidated net profit to Rs 3,909 crore in the September 2024 quarter on the back of strong operational performance, favourable macros and prudent cost management.
The company posted a consolidated net profit of Rs 2,196 crore in the year-ago period, it said in a regulatory filing.
Total income during the quarter under review rose to Rs 59,278 crore against Rs 54,632 crore a year ago.
"Our India business delivered a strong operational performance in Q2 bolstered by our relentless focus on operational reliability and cost management," Hindalco Industries Managing Director Satish Pai said.
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In a post earnings call, Pai said the company is going to be on a growth path on the upstream side.
"Hindalco in India is going to commit roughly 4-5 billion dollars over the next three years," he said.
The majority of this investment would be spent on the upstream projects.
During the quarter, the company made significant progress across its growth projects in India business and Novelis, he said.
On the IPO of Novelis Inc., a fully-owned subsidiary of Hindalco Industries, Pai said that the company would wait for the right market conditions.
The company said the performance of Novelis was impacted by the Sierre flood and tightening of scrap spreads.
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Hindalco Industries Ltd is the flagship company of the Aditya Birla Group. A 26 billion dollar metals powerhouse, Hindalco is the world's largest aluminium company by revenues, and the world's second-largest copper rods manufacturer, outside China.
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