India: Hindalco’s net profit slumps 63% y-o-y in Q3FY’23

Aditya Birla Group’s metals flagship Hindalco Industries has reported consolidated net profit at INR 1,362 crore for Q3FY’23. Profit declined by a sharp 63% y-o-y primarily due to elevated input costs, unfavourable macros and inflationary impacts. The company’s consolidated revenue for Q3 rose nearly 6% y-o-y to INR 53,151 crore. Quarterly consolidated EBITDA stood at INR 3,930 crore, down 48% y-o-y.