Jobaaj Stories
Hindalco Industries, the metals arm of the Aditya Birla Group reported overwhelmingly impressive results as its shares opened well in early trading hours on Friday.
Hindalco is the metals flagship company of the Aditya Birla Group and is an industry leader in aluminum and copper. After acquiring Aleris Corporation in April 2020, Hindalco became the world's largest flat-rolled products player and recycler of aluminum.
Berger Paints Q4 results are live, read more.
The company's profits surged 99.7% in the quarter ended in March 2022 as profit for the quarter came in at Rs 3,851 crores against Rs 1,928 crores during the corresponding quarter last year. Sequentially, the company's profits grew 4.8%. Consolidated revenue of the quarter surged 37.7% to Rs 55,764 crores as it registered a sequential growth of 11%.
"Hindalco Industries Limited, the Aditya Birla Group metals flagship, has outperformed financially and operationally, reporting its highest ever quarterly net profit in Q4 FY22. The company's consolidated PAT (Profit After Tax) peaked at a record-high of Rs 3,851 crore, a 100 percent growth YoY," the company said in a statement.
The shares of Hindalco opened up 3.7% on account of the company's excellent results. However, bears managed to drag the share back down as the share closed at Rs 409.15 per share, giving a marginal gain of 0.32% at the end of Friday's trading session.
Article by Aman Agarwal.
This news piece is brought to you in association with jobaaj.com
