Consolidated net profit slumped 32.73% to Rs 974 crore on 8.76% fall in net sales to Rs 29,657 crore in Q2 September 2019 over Q2 September 2018. The result was announced after trading hours on 11 November 2019.

Consolidated profit before exceptional items and tax slipped 18.77% to Rs 1,748 crore in Q2 September 2019 compared with Rs 2,152 crore during Q2 September 2018. EBITDA fell 8.37% to Rs 3,918 crore in Q2 September 2019 over Rs 4,276 crore in Q2 September 2018. The consolidated net debt to EBITDA was 2.83x as on 30 September 2019 versus 2.48x as on 31 March 2019.

While profits were impacted by the global slowdown and lower commodity prices, the Company delivered steady results driven by an excellent performance by Novelis, supported by stable operations in the Indian business.

Novelis reported outstanding operational performance resulting in record shipments and strong financials. Total shipments of flat rolled products (FRPs) in Q2 FY20 grew 3% to 835 Kt on higher beverage can demand, primarily due to growing consumer preference for sustainable packaging.

Adjusted EBITDA grew 5% to touch a high of $374 million in Q2 FY20. Adjusted EBITDA per ton rose to $448 in Q2 FY20, up 2% YoY. Novelis recorded its best-ever net income (excluding tax-effected special items) of $160 million in Q2 FY20, up 31% YoY. Revenue was down 9% YoY at $2.9 billion in Q2 FY20, mainly due to a fall in average base aluminium price, partially offset by higher shipments and favorable pricing.

Commenting on the Q2 performance, Satish Pai, the managing director of Hindalco Industries, has stated that, Stronger operational efficiencies in upstream business and our rising share of value added products have led to a stronger and de-risked business model. Our sustainability initiatives have achieved recognition through the prestigious National CSR Award and our standing in the Dow Jones Sustainability Index. Globally, consumer demand for sustainable packaging options and automotive closed-loop recycling systems continues to grow. A special call out to Novelis which has once again turned in a record performance.

Hindalco Industries is engaged in the production of aluminium and aluminium products, and copper and copper products. The company's segments include aluminium, which includes hydrate and alumina, aluminum and aluminum product, and copper, which includes continuous cast copper rods, copper cathode, sulfuric acid, di-ammonium phosphate (DAP) and complexes, and gold and silver products.

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Hindalco Industries has appointed Sudhir Mital (DIN: 0008314675) as an Independent Director, with effect from 11 November, 2019 for a tenure of 5 years.

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Consolidated net profit slumped 32.73% to Rs 974 crore on 8.76% fall in net sales to Rs 29,657 crore in Q2 September 2019 over Q2 September 2018. The result was announced after trading hours yesterday, 11 November 2019.

Consolidated profit before exceptional items and tax slipped 18.77% to Rs 1,748 crore in Q2 September 2019 compared with Rs 2,152 crore during Q2 September 2018. EBITDA fell 8.37% to Rs 3,918 crore in Q2 September 2019 over Rs 4,276 crore in Q2 September 2018. The consolidated net debt to EBITDA was 2.83x as on 30 September 2019 versus 2.48x as on 31 March 2019.

While profits were impacted by the global slowdown and lower commodity prices, the Company delivered steady results driven by an excellent performance by Novelis, supported by stable operations in the Indian business.

Novelis reported outstanding operational performance resulting in record shipments and strong financials. Total shipments of flat rolled products (FRPs) in Q2 FY20 grew 3% to 835 Kt on higher beverage can demand, primarily due to growing consumer preference for sustainable packaging. Adjusted EBITDA grew 5% to touch a high of $374 million in Q2 FY20. Adjusted EBITDA per ton rose to $448 in Q2 FY20, up 2% YoY. Novelis recorded its best-ever net income (excluding tax-effected special items) of $160 million in Q2 FY20, up 31% YoY. Revenue was down 9% YoY at $2.9 billion in Q2 FY20, mainly due to a fall in average base aluminium price, partially offset by higher shipments and favourable pricing.

Commenting on the Q2 performance, Satish Pai, the managing director of Hindalco Industries, has stated that, Stronger operational efficiencies in upstream business and our rising share of value added products have led to a stronger and de-risked business model. Our sustainability initiatives have achieved recognition through the prestigious National CSR Award and our standing in the Dow Jones Sustainability Index. Globally, consumer demand for sustainable packaging options and automotive closed-loop recycling systems continues to grow. A special call out to Novelis which has once again turned in a record performance.

Hindalco Industries is engaged in the production of aluminium and aluminium products, and copper and copper products. The company's segments include aluminium, which includes hydrate and alumina, aluminum and aluminum product, and copper, which includes continuous cast copper rods, copper cathode, sulfuric acid, di-ammonium phosphate (DAP) and complexes, and gold and silver products.

Shares of Hindalco Industries declined 1.76% to end at Rs 200.40 on Monday, 11 November 2019.

BSE, NSE are shut today, 12 November 2019, on account of Guru Nanak Jayanti

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Net profit of Hindalco Industries declined 32.73% to Rs 974.00 crore in the quarter ended September 2019 as against Rs 1448.00 crore during the previous quarter ended September 2018. Sales declined 8.77% to Rs 29657.00 crore in the quarter ended September 2019 as against Rs 32507.00 crore during the previous quarter ended September 2018.

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