Hindalco Industries Ltd., the Aditya Birla Group metals flagship, reported its highest net profit in Q2 FY22, surpassing all previous quarterly performances. The company’s consolidated PAT surged 783 per cent to Rs. 3,417 crore, a multifold rise of nearly nine times YoY. The company’s all-time high consolidated EBITDA at Rs. 8,048 crore, up 56 per cent YoY and 19 per cent QoQ.

The results were driven by an exceptional performance by Novelis and India Business, supported by favourable macros, strategic product mix, higher volumes, and stability in operations. Novelis continued to report a high quarterly EBITDA, as a result of an upswing in demand for innovative and sustainable aluminium products, high recycled contents and an outstanding operational performance despite challenges in the automotive segment due to the global semiconductor chip shortage impacting the automotive industry.

Commenting on the results, Mr. Satish Pai, Managing Director, Hindalco Industries, said: “Our record-breaking performance this quarter is an affirmation of our fully integrated business model, which powers our performance in both upstream and downstream markets. Hindalco reported standout performances across all business segments: Indian Aluminium Business set a near global industry record by achieving EBITDA margin of 42 per cent. Copper Business delivered the highest-ever quarterly sales in Q2, with both smelters running optimally to meet the robust market demand. Novelis once again achieved a record EBITDA per tonnene driven by higher volumes and favourable metal prices.

Our product-rich portfolio strategy continues to deliver results across diverse market scenarios. It encourages us to keep building the downstream asset base and expand our market footprint. The recent Ryker copper rod unit acquisition is in keeping with our downstream capex plans announced earlier this year. We also continue to push our ESG agenda and goals to meet our sustainability vision on net neutrality, water positivity, zero discharge and more.”