Hindalco Results

Novelis' total shipments of flat-rolled products were at 908 Kt (kilo tonnes) in the October-December period, declining 2 per cent from 930 Kt in the corresponding period a year ago

The company had posted net profit of Rs 2,787 crore in the year-ago period. On a sequential basis, net profit rose 7 per cent, from Rs 3,851 crore reported in the January-March quarter

The Reserve Bank of India (RBI) on Wednesday released its guidelines for digital lending, listing companies allowed in the business, the rules for loans and data collection, and how fee is charged

Company shares closed trade on the BSE at Rs 407.75 apiece, up 2.75 per cent over the previous day's close.

Consolidated revenue from operations rose 44% to Rs 50,272 cr

On a sequential basis, the company's net profit increased 23 per cent in the period under review on the back of increased revenues

Consolidated revenue rose 53% to Rs 47,665 cr

Revenue from operations came in at Rs 40,507 crore for the quarter under review, an increase of 38 per cent from Rs 29,318 crore in the same period last year

The company informed that the new lower corporate tax option cannot be availed for its India operations for atleast next 5-7 years due to its existing MAT credit

Hindalco delivered the quarterly performance across all its businesses despite challenging environment and rising inputs cost

Sustained improvement in profitability and rising free cash flows for Novelis, Hindalco's US subsidiary, are a big positive. The trend continued in March 2017 quarter (Q4) lifting investor sentiment. The Hindalco stock gained more than four per cent intra-day before closing at Rs 193.40.Novelis reported one of its best-ever Ebitda or earnings before interest, tax, depreciation and amortisation of $292 million, which was ahead of most analysts' estimates. Ebitda was five per cent higher than same quarter last year and 15 per cent higher sequentially, led by better product mix and cost savings. A better profitability indicator, Ebitda per tonne of $370 was five per cent higher year-on-year and nine per cent sequentially. The rising share of automotive shipments in the product mix amidst benign LME aluminium prices continues to help Novelis. Automotive shipments increased 26 per cent year-on-year even as total shipments of rolled aluminium products were flat year-on-year at 789,000 ...