On 13 February 2014, Hindalco, the flagship company of Aditya Birla Group, announced its unaudited results for the quarter ended December 31, 2013. Revenue from operations at Rs.7,273 crore in Q3FY14 is up 15 per cent over Q2FY14, driven by higher volume. Improved operating efficiency has helped the company cushion the adverse impact of higher input cost and lower realization. Other income rose on account of better yields from investment. Profit before tax went up by 6 per cent to Rs.469 crore vis-à-vis Rs.440 crore in Q2FY14. Net profit has been lower due to higher effective tax rate for the quarter. The company’s greenfield projects are ramping up well. Mahan smelter produced 18 Kt of aluminium metal and Utkal Alumina International Limited produced 87 Kt of alumina in Q3FY14. The first metal has been produced at Aditya smelter in January 2014.
Of the total revenues of Rs.7,273 crore, Aluminium Business contributed Rs.2,471 crore [vs. Rs.2,343 crore in Q2FY14] with an EBIT of Rs.170 crore [vs. Rs.166 crore in Q2FY14]. Aluminium sales were higher on the back of higher volume despite realisation being lower. Quarterly aluminium production at 158 Kt has been the highest ever. In the Copper Business, revenues were higher at Rs.4,817 crore up by 21 per cent from Rs.3,974 crore in Q2FY14, driven by higher copper LME and by-product realisation. Cathode production was 89 Kt during this quarter (vs. 84 Kt in Q2FY14). The Copper Business delivered highest ever EBIT of Rs.300 crore in this quarter.
