Hindalco reports record June-quarter profit of ₹7,013 crore on aluminium price surge
Hindalco Industries reported record results for the first quarter, with consolidated net profit up 75% year on year to ₹7,013 crore and revenue rising 32% to ₹84,825 crore. Ebitda climbed 73% to ₹14,989 crore, also a record high, helped by a near-50% jump in aluminium prices and a recovery at its U.S. unit Novelis. The company said it expects average aluminium prices in the second quarter to ease to about $3,200 per tonne from $3,577 per tonne in the first quarter.