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Hindalco Industries Q1 Results: Standalone net profit drops 58% to ₹600 crore; revenue rises 2% YoY
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Hindalco Industries on Tuesday reported a 58.6% drop in standalone net profit for the quarter ended June 2023 at ₹600 crore as compared to ₹1,448 crore in the year-ago quarter. The Aditya Birla Group metals flagship company’s standalone revenue from operations in Q1FY24 increased 2% to ₹19,904 crore from ₹19,518 crore, YoY.
On a consolidated basis, Hindalco Industries' net profit fell 40.4% on-year to ₹2,454 crore, while revenue from operations declined nearly 9% YoY to ₹52,991 crore. Earnings before interest, taxes, depreciation and amortization (EBITDA) during the quarter declined 46.7% to ₹1,561 crore from ₹2,927 crore, while EBITDA margin contracted significantly to 7.8% from 15%, YoY.
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