, an Aditya Birla Group company, has reported that its net profit in the March quarter more than halved to ₹2,597 crore against ₹5,284 crore logged in the same period last year, largely due to one-time expense of ₹4,171 crore related to two fire incidents at Novelis Oswego plant in the US last year.
Revenue was up 20 per cent at ₹78,133 crore (₹64,890 crore) while EBITDA increased 9 per cent to ₹11,197 crore (₹10,296 crore) in the quarter under review. The company has announced a dividend of ₹5 a share and set the record date as July 10.
fire incidents
Last year, there were two fire incidents at Novelis plant at Oswego in the US. Novelis will incur costs of ₹4,171 crore related to repairs, clean-up and other expenses related to this event until the operations are fully-restored at the facility and this was recorded as exceptional expenses, said the company.
Aluminium upstream sales in India were up marginally at 3.39 lakh tonne (3.32 lt) and revenue increased to ₹11,418 crore (₹10,311 crore). EBITDA per tonne was up 4 per cent at $1,756 ($1,684).
Downstream aluminium sales were up 18 per cent at 1.24 lakh tonne, while revenue jumped 35 per cent to ₹4,867 crore. EBITDA per tonne was down 6 per cent at $226 as Aditya FRP plant was being ramped up to its optimal levels.
Copper metal sales were down 5 per cent at 1.28 lakh tonne. Revenue was up 52 per cent at ₹22,156 crore, while EBITDA increased to ₹907 crore (₹614 crore). The fall in TC/RCs was offset by strong operational performance and higher realisation in by-products such as sulphuric acid. Copper recycling project to be commissioned in first half of FY27.
Satish Pai, Managing Director, Hindalco Industries, said while business in India remained strong, Novelis remains on track to restart the Oswego plant and commission Bay Minette plant by the second half of 2026.
Over the last five years, Hindalco India has achieved an EBITDA CAGR of over 32 per cent giving confidence to accelerate expansion projects, including doubling capacities in copper business and Aditya Aluminium, he said.
Novelis sales volume was down at 8.44 lakh tonne (9.57 lt), while revenue increased to $4.79 billion ($4.59 billion). EBITDA was down at $459 million ($473 million). EBITDA per tonne increased to $544 million ($494 million).