Hindalco Q1 Results: Net profit rises 25% to Rs 3,074 crore, misses estimates

Hindalco declares Q1 FY25 results.

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Hindalco Industries reported on Tuesday, 13 August its Q1 FY25 net profit rose 25 percent on-year to Rs 3,074 crore, missing Street expectations. The Aditya Birla group company said its April-June consolidated revenue from operations rose 7.5 percent to Rs 57,013 crore.

A Bloomberg poll of brokerage estimates pegged Hindalco's fiscal first quarter net profit at Rs 3,428 crore, and consolidated revenue at Rs 56,236.4 crore.

Revenue from the copper business came in at Rs 13,292 crore, up 15.6 percent, on account of higher shipments and realisation, while revenue from aluminium upstream and downstream increased 9.6 percent and 18 per cent respectively, the company said in a exchange filing on August 13.

The mining and metal major reported an EBITDA of Rs 7,992 crore in Q1 FY25, up 31% YoY, driven by lower input costs and higher volumes, the company said. "Our strong Q1 results ride on the back of consistent operational excellence and cost optimization which allowed us to leverage the higher average metal prices," said  Satish Pai, Managing Director, Hindalco Industries.

"Looking ahead, the major capital formation phase of the downstream business is near completion, and from here on, we will
explore growth opportunities in the upstream business given our strong cash position," Pai added.

At 2:30 pm on August 13, Hindalco's shares were trading flat at Rs 626.8 apiece.

Novelis performance

Novelis' net sales for the first quarter rose by 2% year-over-year (YoY) to reach $4.2 billion, primarily due to higher average aluminum prices and an increase in overall shipments.

Total shipments of flat rolled products were at 951 KT in Q1 FY25 , up 8% YoY supported by normalised demand for beverage packaging sheet

The net income attributable to common shareholder dipped 3% to $151 million in the first quarter of the fiscal year due to initial charges associated with flooding at the company’s Sierre, Switzerland, plant at the end of June, as well as higher restructuring and unfavourable metal price lag, largely offset by higher adjusted EBITDA, the company said.