Hindalco Q3 results: Net profit falls 63% on input cost pressure

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

Aditya Birla group flagship company, Hindalco, reported a 63 per cent year-on-year (YoY) decline in net profit to Rs 1,362 crore for the quarter ended December 31, 2022 (Q3FY23), on input cost pressures and a fall in aluminium prices. Net profit was below Street estimates, which had pegged the Q3 bottomline at Rs 1,841 crore, according to a poll of analysts by Bloomberg. The net profit last year stood at Rs 3,675 crore. 

Benchmark London Metal Exchange aluminium has fallen off their record highs in early 2022, sliding over 15 per cent to levels of about $2,500-2,600 per tonne. This