Mumbai (Maharashtra) [India], May 21 (ANI): Aditya Birla-led Hindalco Industries on Friday posted three times growth in Q4 FY21 consolidated profit at Rs 1,928 crore due to strong performance by Novelis and India aluminium business.
It was supported by operational efficiencies, higher volumes and better product mix. The profit in Q4 FY20 totalled Rs 668 crore.
Consolidated revenue in Q4 FY21 came at Rs 40,507 crore, up 38 per cent from Rs 29,318 crore in the year-ago period.
The board of directors has recommended a dividend at the rate of 300 per cent (Rs 3 per share) for FY21 as against 100 per cent (Re 1 per share) for FY20.
"Our record Q4 results have strengthened our balance sheet even further, absorbing the Aleris acquisition and restoring consolidated net debt to EBITDA ratio to pre-acquisition levels. The Aleris business continues to positively impact the overall topline and EBITDA," said Managing Director Satish Pai.
"Through Q4, our India business continued to rise with demand higher than pre-Covid levels," he said in a statement.
The country's largest aluminium and copper manufacturer said the results were driven by a strong performance by Novelis and India aluminium business supported by higher volumes and better product mix, lower input costs, stability in operations and cost saving actions.
The copper business recorded a 33 per cent jump in EBITDA sequentially in Q4 FY21 versus Q3 FY21 on account of stable operations.
Novelis reported an all-time high EBITDA as a result of continued demand for innovative, sustainable aluminium solutions and outstanding operational performance across its expanded business, it said.
"Looking ahead, although FY22 has started with a second Covid wave in India, Hindalco is confident that our inherent strengths and tenacity will support us through it."
Hindalco is the world's largest aluminium rolling and recycling company, and a major player in copper. Its global footprint spans 47 manufacturing units across 10 countries.