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Hindalco net up 71%, but below estimate
Mint Mumbai
|February 14, 2024
Hindalco Industries, the flagship company of the Aditya Birla group, on Tuesday reported a 71% year-on-year jump in its consolidated net profit to ₹2,331 crore for the quarter ended December driven by a robust performance of its aluminium and copper businesses. The profit failed to beat the estimate of Bloomberg analysts.
The copper business registered an Ebitda growth of 20% on the back of strong volumes and robust operations, said Satish Pai, MD of Hindalco Industries Ltd. Ebitda is earnings before interest, tax, depreciation, and amortization.
The aluminium upstream business Ebitda rose 54%, supported by stable operations and lower raw material costs, he added.
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