DelhiDesk Hindalco Industries, the world’s largest aluminum company in terms of revenue, reported a 37% YoY decline in net profit for the fourth quarter of the financial year ended March 31, 2023, to Rs 2,411 crore. The company’s standalone net profit for the same period was Rs 832 crore, down 48% from the previous year. However, the board recommended a dividend of Rs 3 per equity share for the year ending March 2023. Meanwhile, Novelis, a subsidiary of Hindalco, improved its quarter-on-quarter performance with net income of $175 million, up 82%.
Follow DelhiBreakings on Google News
Here is the news bullets sorted by DelhiBreakings.com team.
– Hindalco Industries Limited presents poor financial results in Q4 of FY 2022-23
– Net profit declined by 37% YoY to Rs 2,411 crore
– Total earnings in March quarter stood at Rs 56,209 crore, expenditure was Rs 53,372 crore
– Hindalco Industries’ standalone net profit for Q4 has come down by 48% to Rs 832 crore
– Revenue from operations increased by 5% to Rs 19,995 crore
– Novelis, a subsidiary of Hindalco, shows good financial results
– Board recommends a dividend of Rs 3 per equity share for the year ending March 2023
– Hindalco Industries is the world’s largest aluminum company in terms of revenue
– Shares closed at Rs 406.90 on NSE, down 0.83% on Wednesday
– Story first published on Wednesday, May 24, 2023, 16:56 [IST]
For superfast news and Delhi Breaking Stories visti us daily at https://delhibreakings.com
Something went wrong. Please refresh the page and/or try again.