Hindalco Reports 63% Decline In December Quarter Profit Due to Increased Operating Costs

Aditya Birla Group's Hindalco Industries reported a 62.9 per cent decrease in consolidated profit after tax, amounting to Rs 1,362 crore for the quarter ended December 31, 2022. The main contributing factors were elevated input costs, unfavorable market conditions, and inflationary impacts.

In comparison, Hindalco reported a consolidated profit after tax of Rs 3,675 crore in the same quarter the previous year, according to a regulatory filing.

In a regulatory filing, Hindalco stated that the business had reported consolidated profit after tax (PAT) of Rs 3,675 crore in the preceding period.

However, according to the statement, operating revenue rose to Rs 53,151 crore in the third quarter from Rs 50,272 crore a year earlier.

Due to greater volumes in the third quarter of FY23, the copper business's quarterly revenue of Rs 10,309 crore increased by 1 per cent year over year.