Mumbai - Hindalco Industries Limited, a global leader in aluminium and copper, today announced consolidated results for the quarter ended September 30, 2020.
Despite a one-time impact of 1,398 crore on account of the divestiture of the Lewisport unit of Aleris, the Company reported a Consolidated PAT of 387 crore. Consolidated PAT for the continuing business, which reflects the Company's Q2 performance, surged 83 per cent YoY, to 1,785 crore.
The results were driven by a strong performance by Novelis and India Aluminium Business, supported by higher volumes and better product mix, lower input costs, stability in operations, and cost saving initiatives. The Copper Business also bounced back from the disruption in Q1 FY21 with ramped up operations in the second quarter. Novelis reported an all-time high EBITDA as well as EBITDA per ton in Q2 FY21, backed by record performance in beverage cans, and a market revival in the automotive and high-end specialty markets in the US and Asia Regions.
Commenting on the results, Mr. Satish Pai, Managing Director, Hindalco Industries Ltd., said, 'It is heartening to see a sharp recovery of demand to near pre-Covid levels in India Aluminium and Copper businesses. Novelis too sees a similar rise across segments, except for aerospace. Operationally, we have maintained high efficiency and productivity, thus enabling us to deliver a sharp increase in PAT as compared to both last quarter and last year.
Operational performance must go hand-in-hand with sustainability. In that context, I am happy to share that Hindalco has achieved 100 per cent red mud utilisation at three of its refineries, a global benchmark. As part of our commitment to the National Clean Air Programme, we are transporting fly ash by rail from four of our plants to cement manufacturing units all across the country. In keeping with our circular economy vision, we ensure that waste products such as fly-ash, bottom ash and red mud create value in the brick-making, cement making, roads and construction sectors.'
About Hindalco Industries Limited
Hindalco Industries Limited is the metals flagship company of the Aditya Birla Group. A $16.7 billion metals powerhouse, Hindalco is the world's largest aluminium rolling and recycling company, and a major player in copper. It is also one of Asia's largest producers of primary aluminium. Guided by its purpose of building a greener, stronger, smarter world, Hindalco provides innovative solutions for a sustainable planet. Its wholly-owned subsidiary Novelis Inc. is the world's largest producer of aluminium beverage can stock and the largest recycler of used beverage cans (UBCs). Hindalco's copper facility in India comprises a world-class copper smelter, downstream facilities, a fertiliser plant and a captive jetty. The copper smelter is among the world's largest custom smelters at a single location. Hindalco's global footprint spans 47 manufacturing units across 10 countries.
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