Hindalco reports record quarterly profit in Q1 at Rs 4,119 cr, up 48%

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

Hindalco Industries, the flagship company of Aditya Birla Group, saw record April-June quarter (first quarter, or Q1) profit in 2022-23 (Fy23), aided by the performance of its US subsidiary, Novelis Inc.
 
The company reported a 47.8 per cent year-on-year (YoY) rise in consolidated net profit to Rs 4,119 crore in Q1FY23, beating Street estimates by a wide margin. Bloomberg consensus estimates had pegged Q1 net profit at Rs 2,852 crore.
 
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