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Last Updated : Nov 02, 2018 02:15 PM IST | Source: Moneycontrol.com

Hindalco Industries Q2 profit up 54% at Rs 725 cr led by higher operating income

The company's revenue including Utkal Alumina was up 5 percent at Rs 10,833 crore against Rs 10,313 crore.

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Hindalco Industries has reported 54 percent jump in its Q2FY19 net profit at Rs 725 crore driven by higher operational performance and lower finance costs.

The company had reported profit of Rs 470 crore in Q2FY18.

The company's revenue including Utkal Alumina was up 5 percent at Rs 10,833 crore against Rs 10,313 crore.

The company continues its focus on strengthening its balance sheet, resource securitisation and its strategy to grow in the downstream businesses to deliver long-term shareholder value. Novelis will continue to play a crucial role in supporting the next generation of automotive innovation and design, as the market demand for lighter and more fuel-efficient vehicles grow, said Company Management.

EBITDA (Earnings before Interest, Tax, Depreciation and Amortisation) up 5 percent at Rs 1,922 crore versus Rs 1,825 crore. However, margin remained flat at 17.7 percent.

The performance rode on the back of supporting macros, improvement in operational efficiencies and better realisation. This was despite increase in input costs, mainly of coal and furnace oil, company said in release.

The interest expense was lower by 16% at Rs. 479 crore, mainly on account of re-pricing of long term project loans and loan re-payments made last year, it added.

The company's aluminium EBITDA rose 13 percent at Rs 1,364 crore against Rs 1,204 crore. Revenue was up 18 percent at Rs 6,135 crore against Rs 5,218 crore.

Copper EBITDA was down at Rs 388 crore against Rs 467 crore, while revenue was down at Rs 4,710 crore against Rs 5,097 crore.
First Published on Nov 2, 2018 01:48 pm

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