High input costs, weak macros pull down Hindalco's Q4 profit to Rs 506 crore
Mumbai (Maharashtra) [India], May 16 (ANI): Hindalco Industries, the metals flagship company of the Aditya Birla Group, said on Thursday its standalone profit after tax during fourth quarter of fiscal 2018-19 plunged to Rs 506 crore from Rs 616 crore in the same quarter of previous year.
ANI
May 16, 2019 15:46 IST
Mumbai (Maharashtra) [India], May 16 (ANI): Hindalco Industries, the metals flagship company of the Aditya Birla Group, said on Thursday its standalone profit after tax during fourth quarter of fiscal 2018-19 plunged to Rs 506 crore from Rs 616 crore in the same quarter of previous year.
The dip was largely due to weak macros and higher input costs, it said in a statement.
While revenue from operations increased to Rs 12,455 crore from Rs 11,687 crore, EBITDA (earnings before interest, tax, depreciation and amortisation) dropped to Rs 1,733 crore from Rs 1,807 crore.
In the full financial year ending March 2019, revenue from operations totalled Rs 45,908 crore compared to Rs 43,462 crore in the year ending March 2018.
Profit after tax too went up to Rs 2,678 crore from Rs 1,934 crore while EBITDA moved to Rs 7,532 crore from Rs 7,154 crore.
On a consolidated basis, revenue from operations jumped to Rs 130,542 crore in FY 19 from Rs 115,820 crore in FY 18. Profit after tax slipped to Rs 5,495 crore from Rs 6,083 crore while EBITDA slid to Rs 7,532 crore from Rs 7,154 crore.
The company said revenue figures for the quarter and full year ended March 31, 2018 are not comparable. After the introduction of Goods and Services Tax (GST) from July 1, 2017 revenue is required to be disclosed net of GST as per requirement of the Indian Accounting Standard (Ind AS) 18.
"Our FY 19 consolidated profits reached an all-time high in spite of a difficult business environment," said Hindalco's Managing Director Satish Pai. "This resilient performance reflects the strength of our integrated business model, excellent operational capabilities, stable operations and our enriched product portfolio."
Going forward, the company expects the impetus provided by India's growth to boost demand for aluminium. "Rising imports of aluminium and copper, however, pose a threat and we look forward to suitable steps to provide a level playing field," he said.
Hindalco is the world's largest aluminium rolling and recycling company, and a major copper player. It is also one of Asia's largest producers of primary aluminium. Hindalco's global footprint spans 37 manufacturing units across 11 countries.
(ANI)
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