Consolidated results of Hindalco beat Street expectations in the June quarter for the 2022-23 financial year (Q1FY23), reporting an operating profit of Rs 8,640 crore, up 27 per cent year-on-year (YoY) and 13 per cent on a sequential basis. The profit after tax from continuing operations was up 26 per cent, to Rs 4,119 crore (6.7 per cent higher quarter-on-quarter or QoQ). Net sales were up 4 per cent on a sequential basis while they were 40 per cent YoY, at Rs 58,018 crore.
Lower than expected costs in aluminium operations and strong by-product realisations in the copper division led to the better-than-expected result.
