Hindalco‘s share price was volatile after the company posted its earnings for the quarter ended March on Friday.
What Happened: During the January-March period, the company saw a 31.6% year-on-year increase in consolidated net profit, reaching ₹3,174 crore for the March quarter, compared to ₹2,411 crore in the same period last year.
Consolidated revenue from operations remained relatively flat at ₹55,994 crore, compared to the ₹55,857 crore posted in the corresponding quarter of the previous year.
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The company attributed the strong jump in profits to a “robust performance and improved margins across all business segments.” The board of Aditya Birla Group‘s flagship company has recommended a final dividend of ₹3.50 per share for the year ended March 31, 2024.
Consolidated EBITDA for the quarter was at ₹7,201 crore, up 24% YoY from the ₹5,818 crore posted in the same quarter last year.
The company’s copper business posted an all-time high EBITDA of ₹776 crore in the quarter compared to ₹598 crore in the March quarter for 2023. Consolidated Net Debt to EBITDA stood at 1.21x as of March 2024, compared to 1.39x as of March 2023.
Price Action: Hindalco’s share price was up 0.22% to trade at ₹678.30 in the late hours of trading on Friday.
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