Hindalco Industries consolidated Q2 PAT down 60% YoY at Rs 387 cr

One-time loss due to Lewisport sale hit the bottomline even as sales were up 5%

Hindalco Industries reported a consolidated net profit of Rs 387 crore in the September quarter, down 60 per cent from same period last year as a one-time loss due to sale of Aleris’ Lewisport hit the bottom line.

The Aditya Birla Group company’s consolidated net sales in the quarter gone by stood at Rs 31,237 crore, up 5.3 per cent from same period last year, as Novelis shipments and domestic aluminium business witnessed strong performance.

With smelter utilisation at more than 90 per cent in Q2FY21, aluminium India Business achieved aluminium metal production of 307,000 tonne as against 291,000 tonne