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Aditya Birla Group Stock Reports Highest Quarterly Net Profit In Q1: Stock Surges 24.65% In Last 1 Month
Yesterday Hindalco Industries Ltd. published its quarterly results showing an all-time high quarterly consolidated net profit in Q1FY23 at Rs. 4,119 crore, with an increase of 48% YoY. The company's consolidated revenue also increased to Rs. 58,018 crore, against Rs. 41,358 crore, which increased by 40% YoY. According to the company, excellent performance by Novelis, and robust growth by Aluminium Downstream and Copper businesses, supported by operational efficiencies and higher volumes were the major reasons behind this optimistic result. As it is a large-cap stock, it can offer investors assured and secured investment opportunities for the long term. Brokerage firm Prabhudas Lilladher suggests accumulating the stock with a target price of Rs. 580.
NSE performance
The company has given a mixed performance in the stock markets, on short term basis. The current market price of Hindalco stood at Rs. 432.40/share on NSE, fell by 1.75%, till last traded. In the last 5 days, the share price of this company has surged by 0.87% on NSE, and in the last 1 month, its share price has surged by 24.65%. In the past 6 months it has fallen 17.05%, but in the last 1 year its share price has surged by 1.11%. However, in the long term, the company's performance has been good, its share price grew by 87.96% in the last 5 years.
The 52-week high level of this stock is Rs. 1,279.26, and the 52-week low level of this stock is Rs. 505.60.
| Market capitalization | Current market price | 5 Days performance | 1 Month performance |
|---|---|---|---|
| Rs. 97,415 crore | Rs. 432.40 | 0.87% | 24.65% |
About the company: Hindalco
Hindalco Industries Limited is the metals flagship company of the Aditya Birla Group. Hindalco is an industry leader in aluminium and copper. Hindalco's acquisition of Aleris Corporation in April 2020, through its subsidiary Novelis Inc., has cemented the company's position as the world's largest flat-rolled products player and recycler of aluminium, the company informs.
"After the record profitability of the fourth quarter, I am pleased to share that we delivered an even stronger first quarter despite rising input costs and inflationary pressures. Our performance was backed by strong operational efficiencies and pre-emptive sourcing of critical raw material, thus ensuring stable operations and higher margins. Our business model supports our position as an integrated aluminium producer with one of the world's best EBITDA margins," stated Satish Pai, Managing Director, Hindalco Industries to the media.
Disclaimer
Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, and the author are not liable for any losses caused as a result of decisions based on the article.
