Hindalco Q3 net profit rises 71% to Rs 2,331 crore

The EBITDA came in at Rs 2,443 crore against Rs 1,591 crore in the year-ago quarter.

EBITDA is short for earnings before interest, taxes, depreciation and amortisation.

Revenue from the copper business came in at Rs 11,954 crore, up 16 percent YoY, driven by higher sales volumes and prices but revenue from aluminium upstream declined 0.9 percent to Rs 7,971 crore.

The company’s board approved to extend Pai's term by four years to December 31, 2027.

At 3.01 pm, the stock was trading Rs 510.90 on NSE, down 12.28 percent from the previous close. The stock slid after Hindalco’ US-based subsidiary Novelis revised guidance for the cost of its Bay Minette project.

"While the capital expenditure for the Bay Minette project has escalated primarily due to higher civil and construction costs than initially estimated, the strategic rationale remains firmly in place," the company said.

Novelis said on February 12 that  Bay Minette project costs would see a 65 percent increase and a one-year delay. It the project cost to $4.1 billion and expects it to be commissioned by of the calendar year 2026 or in the second half of FY27.

Novelis’ Q3 performance

Novelis’ adjusted net income rose 81 percent to $174 million, while the adjusted EBITDA surged 33 percent to $454 million.

"We continue to expect adjusted EBITDA per tonne to return to a sustainable $525 level, beginning this fiscal fourth quarter, as shipments seasonally improve and we drive more operating leverage," Devinder Ahuja, executive vice president and CFO, Novelis Inc, said.

However, sales were down 6 percent from the last year to $3.9 billion, driven by lower average aluminium prices as shipments were in line with prior year levels.