08 February 2013
Hindalco announces Q3 FY2012-13 standalone results (unaudited)
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|Revenue from operations
|(In Rs. crore)
|Revenue from operations
|Profit before tax
|Note: Certain descriptions and /or figures of earlier periods have been changed / regrouped to conform to current practices
Hindalco, the Aditya Birla Group flagship company today announced its unaudited results for the quarter ended December 31, 2012.
Higher volumes have resulted in 11 per cent increase in revenue from operations on a sequential basis. Its EBITDA grew by 13 per cent largely from improved performance over Q2FY13. Other income was stronger, given an enhanced average treasury, along with income of non-recurring nature.
Finance costs rose on account of greater average borrowings during the quarter.
Aluminium sales grew by 5 per cent to Rs.2,215 crore from Rs.2,105 crore in Q2FY13 led by higher volumes.
The performance of aluminium business improved on the back of ramp-up at both the smelters, after the operational set-backs in Q2FY13. The total metal production stood at 139 Kt compared to 128 Kt in Q2FY13. VAP sales were 59 Kt vs. 62 Kt in Q213 due to poor market conditions.
Alumina production was marginally lower at 326 Kt vs. 328 Kt in Q2FY13, on account of lower production at the Belgaum refinery, reflecting the constraints in the availability of bauxite for this plant.
The capital employed in the aluminium business was Rs. 29,821 crore as on December 31, 2012, which is inclusive of Rs.20,971 crore pertaining to the new investments, viz., Mahan Aluminium, Hirakud FRP and Aditya Aluminium projects.
Revenue rose by 15 per cent, driven by higher volumes to Rs.4,661 crore from Rs.4,066 crore in Q2FY13. The EBIT of the copper business grew by 8 per cent to Rs.225 crore vs. Rs.209 crore in Q2FY13.
Cathode production was at 84 Kt as against 78 Kt in Q2FY13. The value-added CCR production was maintained at 37Kt.
The company drew US$100 million finance from Export Development Canada for its Mahan Aluminium project. This is part of the overall financial closure for the project.
Mahan Aluminium, Hirakud FRP and Utkal Alumina projects are in the final stages of implementation and are expected to be ready for trial runs very shortly.
With the projects going on-stream in the near-term, Hindalco is well poised to take the business to the next level.
Statements in this “Press Release” describing the company’s objectives, projections, estimates, expectations or predictions may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make a difference to the company’s operations include global and Indian demand supply conditions, finished goods prices, feed stock availability and prices, cyclical demand and pricing in the company’s principal markets, changes in Government regulations, tax regimes, economic developments within India and the countries within which the company conducts business and other factors such as litigation and labour negotiations. The company assume no responsibility to publicly amend, modify or revise any forward looking statement, on the basis of any subsequent development, information or events, or otherwise.