Aluminium major Hindalco Industries‘ Q4 FY20 standalone profit rose 38.1 percent year-on-year as growth remained strong on the operating front and overall numbers were ahead of analysts’ estimates.

Profit increased to Rs 326 crore during the quarter as against Rs 236 crore in same period last year.

Standalone revenue from operations declined 19.2 percent YoY to Rs 9,992 crore, said the Aditya Birla Group company in a BSE filing on June 12.

Standalone earnings before interest, tax, depreciation and amortisation (EBITDA) in Q4 grew 26.4 percent to Rs 1,141 crore and margin jumped 410 basis points to 11.4 percent.

As per the average of estimates of analysts polled by CNBC-TV18, profit was expected at Rs 217 crore on a revenue of Rs 9,635 crore. EBITDA was expected at Rs 959 crore and margin at 9.9 percent for the quarter.

On the consolidated basis, Hindalco reported a 43.3 percent year-on-year decline in Q4 profit at Rs 668 crore on revenue of Rs 29,318 crore that fell 13.1 percent compared to same quarter last year.

Consolidated EBITDA was remained strong at Rs 4,173 crore for the quarter, rising 6 percent YoY led by Novelis performance.

“The company reported strong quarterly results driven by a record performance by Novelis, supported by lower input costs and stable operations in the Indian businesses,” said company.

Despite rising uncertainty on account of COVID-19, Novelis recorded its best-ever EBITDA, while the Indian aluminium business delivered EBITDA margins for the quarter and full-year, that outperformed the industry, it added.

For the full financial year 2019-20, Hindalco reported consolidated profit at Rs 3,767 crore, declining 31.4 percent and revenue at Rs 1,18,144 crore, falling 9.5 percent compared to previous year.

Moneycontrol Ready Reckoner

Now that payment deadlines have been relaxed due to COVID-19, the Moneycontrol Ready Reckoner will help keep your date with insurance premiums, tax-saving investments and EMIs, among others.

Moneycontrol Webinar ‘Mastering the Remote Work Experience’, brought to you by Microsoft on 16th June. Register Now!

Read More

WP2Social Auto Publish Powered By : XYZScripts.com
Scroll Up