Hindalco Q4 profit drops 25% to Rs 377 crore; operating margin dips
Aluminium major, Hindalco Industries, reported a drop of 25 percent (YoY) in its profits for the March quarter to Rs 377 crore. The company had posted a profit of Rs 502.5 crore for the same period of last year.
Its revenue from operations, however, rose to Rs 11,681 crore from Rs 11,026 crore reported during the corresponding quarter of last year.
At an operational level, the profit fell 7 percent to Rs 1,257.6 crore against Rs 1,347 crore year on year, while the operating margin came in lower at 10.8 percent. The operating margin was at 12.2 percent last year.
The firm’s EBIT for aluminium business was flat at Rs 920 crore, while the EBIT for copper business fell 34 percent at Rs 329.1 crore.
“Having delivered a record performance and a strong balance sheet in this fiscal, the company will continue to leverage its core strength in operational and business excellence. In line with its strategy to grow downstream business, the firm will focus on quality, customer centricity, and use of technology to deliver superior shareholder value,” the company’s management said in a statement.