Hindalco Industries Q1 results: Net profit at Rs 910 crore; revenue jumps 79% YoY

On the operational front, standalone EBITDA increased to Rs 2,096 crore as against Rs 573 crore in the year-ago period, while EBITDA margin improved to 15.7 percent from 7.7 percent, YoY.

Tata Steel BSL Q1 results: Net profit at Rs 2,478 crore; topline jumps three-fold YoY to Rs 7,319 crore

"Novelis recorded its best-ever quarterly adjusted EBITDA of $555 million (vs $253 million), up 119 percent YoY, on the back of higher volumes, favourable product mix and metal benefits, and a $47 million gain related to a favourable decision in a Brazilian tax litigation," the company said in a regulatory filing.

Novelis achieved an adjusted EBITDA per tonne of $570 in Q1FY22, compared to $327 in the prior year, an increase of 75 percent YoY.  Excluding the non-recurring tax litigation benefit, adjusted EBITDA per tonne equates to $522 in the first quarter of FY22.

Novelis' revenue rose 59 percent to $3.9 billion from $2.4 billion, YoY, due to higher shipments, global aluminium prices and market premiums.

Also read: Bharti Airtel Q1 results: Net profit at Rs 284 crore, misses estimates

"Total shipments of flat rolled products (FRPs) were at 973 Kt (vs 774 Kt), up 26 percent YoY, with strong demand across end-product markets particularly beverage packaging and speciality products, partially offset by some headwinds in the automotive industry on account of the semiconductor chip shortage," the company added.

The aluminium business EBITDA during the quarter jumped to Rs 2,352 crore from Rs 973 crore, YoY, primarily due to favourable macros, improved product mix and better operational efficiencies. CNBC-TV18 analysts' poll has estimated the EBITDA of Rs 1,950 crore. EBITDA margins reached a 13-year high of 37.5 percent.

Revenue was Rs 6,267 crore versus Rs 4,436 crore while the business recorded metal production of 319 Kt versus 291 Kt, YoY. Aluminum metal sales were flat YoY at 303 Kt.

Also read: Tech Mahindra Q1 results: Net profit rises 31% to Rs 1,353.2 crore; dollar revenue growth at 4.1% QoQ

Copper cathode production was at 63 Kt, higher by 52 percent YoY. While overall copper metal sales were at 80 Kt versus 58 Kt in Q1 FY21, copper continuous cast rod (CCR) sales in Q1 FY21 were up 50%, at 46 Kt (vs 31 Kt in Q1 FY21), driven by market recovery.

The copper business EBITDA stood at Rs 261 crore as compared to Rs 66 crore in Q1FY21, and against estimates of Rs 170 crore. Revenue from the copper business rose to Rs 7,094 crore primarily due to higher global prices of copper.

At 2:55 pm, the shares of Hindalco Industries were trading 0.60 percent higher at Rs 445.70 apiece on the BSE.

Also read: IOC Q1 results: Net profit falls 32% QoQ to Rs 5,941 crore; GRM at $6.58 per barrel