Low global commodity prices pull down Hindalco Q2 profit at Rs 974 crore
Mumbai (Maharashtra) [India], Nov 11 (ANI): Hindalco Industries Ltd, the metals flagship company of Aditya Birla Group, on Monday reported a consolidated net profit of Rs 974 crore in the quarter ended September against Rs 1,448 crore year-on-year.
ANI
Nov 11, 2019 16:40 IST
Mumbai (Maharashtra) [India], Nov 11 (ANI): Hindalco Industries Ltd, the metals flagship company of Aditya Birla Group, on Monday reported a consolidated net profit of Rs 974 crore in the quarter ended September against Rs 1,448 crore year-on-year.
Revenue from operations went down 8.8 per cent at Rs 29,657 crore in Q2 FY20 against Rs 32,507 crore in Q2 FY19.
Earnings before interest, tax, depreciation and amortisation (EBITDA) dropped by 8.4 per cent at Rs 3,918 crore against Rs 4,276 crore. The consolidated EBITDA margin remained flat at 13.2 per cent.
Managing Director said while profits were impacted by the global slowdown and lower commodity prices, the company delivered steady results driven by an excellent performance by Novelis supported by stable operations in the Indian business.
"Stronger operational efficiencies in upstream business and our rising share of value-added products have led to a stronger and de-risked business model," he said in a statement.
Hindalco Industries is the metals flagship company of Aditya Birla Group, a 18.7 billion dollar metals powerhouse.
(ANI)
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