Indian aluminum producer Hindalco reported a 189pc increase in its consolidated profit-after-tax (PAT) as its US subsidiary Novelis, and Aluminium India Business made record profits and shipments in Q4 FY21 (ended March 31, 2021).
In the past quarter, Novelis shipped 983,000mt in aluminum products, up 21pc from the Q4 FY20, with an adjusted EBITDA of $505mn, an increase of 32pc annually. Meanwhile, its Aluminium India Business sold 92,000mt in value-added products, growing 54pc over the prior-year period. The segment reported a 72pc rise in PAT to Rs6.53bn ($89.5mn).
In FY 2021, Hindalco’s consolidated PAT was Rs51.82bn, recording a growth of 38pc. During the same period, Novelis’ adjusted EBITDA rose by 16pc annually to $1.7bn while Aluminium India Business posted an EBITDA of Rs4.85bn, up 30pc from FY 2020.
Hindalco is owned by the Indian conglomerate Aditya Birla Group, which indirectly owns Novelis and Aleris, as well as Birla Copper.