Novelis: Q3 FY23 results show 3% fall on net sales y-o-y

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Novelis Inc, a leading global provider of sustainable aluminum, announced results for the third quarter of FY23, recently.
Net sales decreased 3% to $4.2 billion for Q3FY23, compared to $4.3 billion in the year ago period, due to lower average aluminum prices and a 2% decrease in total flat rolled product shipments.
Adjusted EBITDA of $341 million, down 33% y-o-y in a difficult cost environment.

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