Hindalco Q4 Results: Profit Falls But Beats Estimates

Hindalco Industries Ltd. reported a fall in revenue and profit but still beat analyst estimates for the quarter ended March 2023.

The company's revenue grew 5.09% quarter-on-quarter to Rs 55,857 crore in the fourth quarter of FY23, according to its exchange filing. It compares with an estimate of Rs 47,506.5 crore by analysts tracked by Bloomberg.

Hindalco Q4 Highlights (Consolidated, YoY)

• Net profit fell 37% to Rs 2,411 crore, against an estimate of Rs 2,166.9 crore.

• Ebitda fell 27% to Rs 5,327 crore, as compared with an estimate of Rs 4987.9 crore.

• Ebitda margin fell to 9.5% from 13.1%. Analysts had estimated it at 10.5%.

• Revenue up 0.2% at Rs 55,857 crore versus an estimate of Rs 47,506.5 crore.

Hindalco's aluminium (upstream and downstream) segment had an Ebitda of Rs 2,305 crore, a 40% year-on-year drop. However, it was 32% higher than the previous quarter. Novelis continued to grow despite Hindalco's decline in profitability, with 2% year-on-year growth in Ebitda.

Shares of Hindalco ended 0.83% lower at Rs 406.1 apiece on Wednesday after it declared the results, as against a 0.34% drop in the benchmark Nifty.