• Excellent operational performance in both Aluminium and Copper Businesses

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		Vs. Q3 FY14
Revenues	Rs. 8,603 crore	18%
PBITDA	Rs. 1,135 crore	36%
Profit After Tax	Rs. 359 crore	8 %

Hindalco the Aditya Birla Group flagship company, announced its unaudited results for the quarter ended 31 December 2014.

Financials
Net sales stood at Rs.8,603 crore as compared to Rs.7,273 crore in the corresponding quarter of the previous year. Profit before Interest, Depreciation and Tax (PBITDA) was Rs.1,135 crore versus Rs.834 crore in the corresponding quarter of the previous year. However, finance cost and depreciation were significantly higher compared to Q3FY14 due to progressive capitalisation of the company’s greenfield projects. As a result, net profit was only 7.5 per cent higher at Rs.359 crore vs. Rs.334 crore in Q3FY14.

Higher sales reflect increased volume and better realisation in both Aluminium and Copper Businesses. PBITDA for the quarter improved by 36 per cent to Rs.1,135 crore.

Of the total revenue of Rs.8,603 crore, Aluminium Business contributed Rs.3,636 crore vs. Rs.2,471 crore in Q3FY14. The higher revenue is attributable to higher volume and higher realisation. As a result, the segment results of Aluminium Business went up from Rs.170 crore in Q3FY14 to Rs.384 crore in Q3FY15. In the Copper Business, revenue stood at Rs.4,976 crore compared to Rs.4,817 crore in Q3FY14. The performance of the Copper Business reflected enhanced volume, better TcRc and improved by-product credit. The segment results rose from Rs.300 crore in Q3FY14 to Rs.396 crore in Q3FY15.

Operational review
Aluminium
Metal production was up 37 per cent to 217 Kt vs. 158 Kt in Q3FY14, consequent to the ongoing ramp-up at Mahan smelter and Aditya smelter. On a sequential basis, the metal production is up by 16 per cent.

Alumina production (including Utkal) was up by 38 per cent to 593 Kt over Q3FY14. The standalone results do not include the performance of Utkal Alumina refinery, as it is a subsidiary of the company.

Coal availability is posing a significant challenge for ongoing pot ramp-up at the upcoming Mahan and Aditya smelters.

The downstream value added production was impacted by adverse market demand conditions.

Copper
Cathode production was higher at 95 Kt as against 89 Kt in Q3FY14 (vs. 96 Kt in Q2FY15). Value added CC rods production was at 36 Kt compared to 34 Kt in Q3FY14.

In conclusion, the core operational performance of the company in terms of volume is showing a remarkable improvement. Coal availability is impacting the pace of ramp-up in greenfield aluminium projects. With the coal auction planned shortly, the company is looking forward to a faster resolution to the coal availability issue.

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.