Hindalco Industries¡¯ consolidated PAT drops 24% YoY in Q3 FY20

Hindalco Industries Limited, a global leader in aluminium and copper, announced consolidated results for the third quarter ended 31 December 2019. The company’s consolidated revenue stood at INR29,197 crore compared to INR33,213 crore in the same quarter last year.

Total EBITDA came in at INR3,676 crore in Q3 FY20, down by 10 per cent year-on-year from INR4,080 crore. Consolidated Profit before Exceptional Items and Tax was INR1,487 crore in Q3 FY20. That was down by 23 per cent from INR1,931 crore in the prior year. Profit After Tax (PAT) dropped by 24 per cent to stand at INR1,062 crore in Q3 FY20.

Revenue from aluminium business declined 9 per cent year-on-year to INR 5,467 crore in Q3 FY20, due to lower realisations. EBITDA stood at INR 1,036 crore in Q3 FY20 compared to INR 1,252 crore in Q3 FY19.

Hindalco achieved aluminium production of 330 thousand tonnes. Alumina production (including Utkal) stood at 662 thousand tonnes in Q3 FY20. Aluminium metal sales volume grew 2 per cent to 328 thousand tonnes in Q3 FY 20. Sales volume of Aluminium Value Added Products (VAPs), excluding wire rods, remained flat at 75 thousand tonnes.

Satish Pai, Managing Director, Hindalco Industries Limited, said, “For the past few years, Hindalco has continuously focused on improving plant operations. These efficiencies have helped us stay strong and steady amid weak markets.”

“In Q3 FY20, 80 per cent of our consolidated EBITDA was non-LME linked. These trends bear out our focus on building our downstream, value-added portfolio, both for domestic and international markets. All our strategic expansion projects in India and Novelis are on track.”

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