Hindalco Industries Q3 profit stands at Rs 713 crore, including Utkal.

Hindalco Industries has gained a decent 47 percent on year growth in third quarter profit (including Utkal) to Rs 713 crore. Higher operating income and lower finance cost in the metal industry could be some of the factors for the growth.

The profit during the quarter ended December 2017 closed at Rs 484 crore.

Revenue from operations (including Utkal) rose by 8 percent year-on-year to Rs 11,938 crore in quarter ended December 2018.

With operations, EBITDA (earnings before interest, tax, depreciation and amortisation) including Utkal rose 3.5 percent to Rs 1,926 crore in Q3 YoY, but margin contracted to 16.1 percent against 16.9 percent in same period last year.
Hindalco has also stated that the supporting macros, improvement in operational efficiencies and better realisations were great mobility factors. On the downscale, there has been an increase in input costs, mainly of coal and furnace oil.

Interest expenses for the quarter went down by 12 percent to Rs 477 crore YoY, mainly due to re-pricing of long term project loans and loan re-payments.

The company said that because of its deleveraging focus, it prepaid another Rs 1,575 crore in October 2018.

Hence, Hindalco standalone plus Utkal Alumina net debt to EBITDA (on TTM Basis) improved by 2.36x as on December 2018 from 2.67x as on March 2018, it added.

Aluminium business (including Utkal) during the quarter grew by 12.6 percent to Rs 6,018 crore with its EBITDA increasing 8 percent to Rs 1,286 crore YoY on supporting macros, partially offset by increase in the input prices.

The company achieved aluminium metal production of 324 Kt in Q3FY19, as its plants continued to operate at peak designed capacities, the company said, adding alumina (including Utkal Alumina) production was higher at 749 Kt versus 734 Kt in the corresponding period last year because of better operational performance.

Copper business revenue at Rs 5,925 crore went up by 4 percent and its operating income at Rs 431 crore was rose by 2.4 percent for quarter ended December 2018.

At around 14:38 IST the stock was quoting at Rs 199.65, up Rs 0.30, or 0.15 percent on the BSE.

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