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Near-term profit woes for Hindalco's India biz amid high energy costs

Margin recovery expected in the second half of FY23

Hindalco
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Hindalco

Devangshu Datta
Consolidated results of Hindalco beat Street expectations in the June quarter for the 2022-23 financial year (Q1FY23), reporting an operating profit of Rs  8,640 crore, up 27 per cent year-on-year (YoY) and 13 per cent on a sequential basis. The profit after tax from continuing operations was up 26 per cent, to Rs 4,119 crore (6.7 per cent higher quarter-on-quarter or QoQ). Net sales were up 4 per cent on a sequential basis while they were 40 per cent YoY, at Rs 58,018 crore.

Lower than expected costs in aluminium operations and strong by-product realisations in the copper division led