Hindalco reports 37% fall in consolidated Q4 PAT to Rs 2,411 crore; declares dividend of Rs 3/share

The company’s board has recommended a dividend of Rs 3 per equity share of Re 1 each for the year ended March 31, 2023. The dividend payout is subject to the approval of shareholders at the ensuing Annual General Meeting of the company, Hindalco said.

Hindalco’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) declined 23 per cent YoY in the March quarter to Rs 5,818 crore, from Rs 7,597 crore in the same quarter the previous year.

For the full fiscal of 2023, Hindalco’s consolidated revenue from operations jumped 14 per cent to Rs 2,23,202 crore, from Rs 1,95,059 crore in FY22. However, its PAT (profit after tax) declined 26 per cent to Rs 10,097 crore in FY23, from Rs 13,730 crore in FY22.

Hindalco Industries MD Satish Pai said, “Our Copper Business delivered exceptional results recording its highest-ever EBITDA, driven by robust market demand, stable operations and higher value-added product sales. Our India Aluminium Downstream Business, which experienced its highest-ever EBITDA growth in FY23, reflects our strategic focus on enhancing this segment. Despite macroeconomic headwinds, Novelis has shown quarter-on-quarter recovery supported by improved product pricing and favourable product mix.”

At the time of writing, Hindalco’s shares were trading over 1 per cent down at Rs 405.85 on BSE.