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Aditya Birla Group Co Declares Steep Dip In Net Profit, Rs 3/Share Dividend

Aditya Birla Group Co Declares Steep Dip In Net Profit, Rs 3/Share Dividend


Business

oi-Renu Baliyan

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Hindalco Industries on May 24 declared a 48% decline in its standalone net profit at Rs 832 crore for the quarter ended March against Rs 1,601 crore announced in the same quarter of last fiscal. The board of directors of the company recommended Rs 3 per equity share dividend for the year ended March 31, 2023. Hindalco Industries share tumbled 0.77% intraday to end at Rs 407.05 apiece. Check details below:

Hindalco Industries Declares Dividend: According to the regulatory filing of the company, “recommended a dividend of Rs. 3 /- per equity share of Re. 1/- each for the year ended March 31, 2023, subject to the approval of Shareholders at the ensuing Annual General Meeting of the Company.”

Aditya Birla Group Co Declares Steep Dip In Net Profit, Rs 3/Share Dividend

Hindalco Industries Stock Performance & Return: Last trading price of Hindalco Industries stock is Rs 407.05 apiece on BSE. The stock’s 52-week high price is Rs 504.00 apiece and 52-week low price is Rs 309.00 apiece, respectively. The company has a market capitalisation of Rs 91,472.06 crore. Hindalco Industries share witnessed a decline of 7% in last 6-months, gained 2% in last 1-year, 4% in last 2-years, and gave return of 226% in last 3-years.

Hindalco Industries Q4: The company’s revenue from operations for the quarter soared 5% to Rs 19,995 crore as against Rs 18,969 crore announced in the corresponding quarter of last year. Hindalco’s PAT witnessed a fall of 37% YoY to Rs 2,411 crore on a consolidated level as revenue soared 5% YoY to Rs 55,857 crore.

“Our diversified business model continues to drive Hindalco’s resilient performance in challenging times. Our copper business delivered exceptional results recording its highest-ever EBITDA, driven by robust market demand, stable operations and higher value-added product sales,” said Satish Pai, MD, Hindalco Industries.

Hindalco Industries About: Hindalco Industries Limited is the metals flagship company of the Aditya Birla Group. A US$26 billion metals powerhouse, Hindalco is an industry leader in aluminium and copper. Hindalco’s acquisition of Aleris Corporation in April 2020, through its subsidiary Novelis Inc., has cemented the company’s position as the world’s largest flat-rolled products player and recycler of aluminium, according to its official website.

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Story first published: Wednesday, May 24, 2023, 20:16 [IST]


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