HINDALCO’S NET PROFIT SURGED 13% TO Rs.2021 CRORE

Hindalco is trading at Rs.291.90,up 12.50 points or 4.47%.It touched intraday high of 294.75 and low of 279.95.Market Cap of the company stood at Rs.64,847.62 crore.

Hindalco Industries posted a net profit of ₹ 2,021 crore in the third quarter of the current financial year compared to ₹ 1,785 crore in the year-ago period, driven by strong domestic business and operational efficiencies.

Net sales of Novelis, the subsidiary of Hindalco in Q3 FY21 stood at $3.2 billion, up 9 percent sequentially, on account of higher shipments, LME and market premiums. The Hindalco subsidiary saw an all-time high adjusted EBITDA at$501 million in Q3 FY21, up 10 percent sequentially.

The results were driven by a strong performance by Novelis and India aluminium business, supported by higher volumes and better product mix, lower input costs, stability in operations and cost-saving actions,