Hindalco Industries Q2 net profit dips 33% at Rs 974 crore

HINDALCO

Hindalco Industries has reported 33 percent YoY fall in its consolidated Q2FY20 net profit on the back of global slowdown and lower commodity prices.

The company’s Q2FY20 net profit was at Rs 974 crore versus Rs 1,448 crore in the year-ago period.

The profit includes a one-time loss of Rs 256 crore.

Revenue of the company shed 8.8 percent YoY at Rs 29,657 crore versus Rs 32,507 crore .

Earnings before interest, tax, depreciation and amortisation (EBITDA) was down 8.4 percent at Rs 3,918 crore versus Rs 4,276 crore, while EBITDA margin was flat at 13.2 percent, YoY.

The company’s aluminium (Including Utkal Alumina) revenue declined 10 percent at Rs 5,526 crore versus Rs 6,135 crore, YoY.

On the standalone basis company’s net profit fell 74.8 percent at Rs 78 crore versus Rs 309 crore, while revenue fell 8.1 percent at Rs 9,965 crore versus Rs 10,843 crore, YoY.

Standalone Earnings before interest, tax, depreciation and amortisation (EBITDA) was down 27.4 percent at Rs 792 crore and EBITDA margin was down 210 bps at 8 percent, YoY.

Hindalco Industries ended at Rs 200.40, down Rs 3.60, or 1.76 percent on the BSE

News Source: Moneycontrol

 

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