Hindalco Reports Growth Of PAT By 220% In FY 2018

Hindalco, the metals flagship company of the Aditya Birla Group's consolidated Profit After Tax (PAT) surged and recorded at Rs 6,083 crore for fiscal 2018, up by a whopping 220% as against Rs 1,900 crore in fiscal 2017.

The company reported consolidated EBITDA at Rs 15,025 crore in fiscal 2018, up by 11% as against previous year.

The production of aluminum and copper rose at 1,291 Kt and 410 Kt respectively.

Revenue for the company's India operations touched Rs 43,451 crore in fiscal 2018.

The aluminum revenue of the company, for fiscal 2018 touched Rs 21,089 crore, the reason behind the high revenue is the high volume of sales of Aluminium Metal, better realizations, and supportive macros.

The aluminium prices on the London Metal Exchange touched to a new high and reached $2,246 per tonne in December 2017. Prices were strengthened by easing global inventory as up to two million tonnes of aluminium smelter capacity went offline in China due to raising concerns about pollution.

Revenue from operations for the fourth quarter of 2018 declined marginally and stood at Rs 11,886.02 crore as against Rs 11,969.66 crore in the fourth quarter of 2017.

The Profit After Tax for the fourth quarter of 2018 is Rs 376.97 crore as against Rs 502.52 crore, down by 24.98% in the fourth quarter of 2017.

Novelis

During fiscal 2018, Novelis sold approximately 50% of its ownership of its Ulsan facility in South Koran to Kobe Steel for $314 million. It has further announced plans to set up a 200 Kt automotive finishing facility in Guthrie, Kentucky, U.S.

The stocks of the company were trading at Rs 240.10 per piece down by 1.56% in BSE at 2:37 pm (IST).

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