Hindalco Industries Ltd on Friday reported a combined profit after the Rs 2,787 crore quarterly tax expired on June 30, 2021.
The steel manager of the Aditya Birla team had posted a combined loss of $ 709 last year.
Consolidated revenue from operations in April-June increased to Rs 41,358 crore from Rs 25,283 crore over the past year, according to a company’s contribution.
“Hindalco Industries … sent impressive results to Q1 FY22 recording its highest quarterly profit ever. The combined company PAT was rs 2,787,” the company said in a statement.
The results were driven by the strong business performance of Novelis and India, which was supported by fine macros, a mix of strategic products, and operational sustainability.
Novelis reported on EBITDA quarterly on a regular basis, due to increased demand for new and continuous aluminum products and outstanding operational performance, the statement said.
“This quarter we have brought off record-breaking results despite the impact of the second wave of COVID. Our strong financial performance, acceleration distribution and growing strength in our balance have been seen by the market and reflected in the development of debt rating in both Novelis and Hindalco,” said Hindalco Industries CEO Satish Pai.
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“Improvements are being seen in all aspects of our business as we see stronger demand, more efficient plants, and better boundaries. We continue to keep workers protected and demolish plant facilities by taking all appropriate COVID measures,” he said.
He said the company started FY’22 at a fast pace and “we are confident that our resilience to market changes will support us in continuing to provide the best possible supply. Most importantly, we believe our focus on setting and achieving carbon neutrality and other ESG targets will ultimately
Hindalco who holds the position of leader as the most added aluminum player in the world.
The company said the huge debt has fallen by Rs 16,345 crore and the debt has dropped by R10,389 million from June 30, 2021, from its peak on June 30, 2020.
Hindalco is preparing to face the third wave of Covid by intensifying its efforts to protect workers and the public.
More than 51,000 workers have been vaccinated in at least one dose. In some provinces, the government is working with Hindalco to vaccinate local people in the company’s hospitals and health facilities.
A dedicated Hindalco team of 77 doctors and 245 paramedics works around the clock working for staff and the community.
Hindalco has improved medical infrastructure and equipped its hospitals and health facilities with critical care equipment such as CT scans, set up oxygen lanes in remote areas to assist patients in need of ICU care, and improved its laboratory testing facilities.
Hindalco has strengthened its medical teams, including adding pediatricians, and expanding their emergency skills.
