Hindalco on Friday posted a standalone loss of Rs 40 crore for the quarter ended June 30. It had reported a profit of Rs 23 crore in the corresponding quarter last year. On a consolidated basis, the company posted a loss of Rs 709 crore against a profit of 1,063 crore a year ago. Revenue from operations declined 15.64% YoY to Rs 25,283 crore.
Standalone revenue from operations declined 26.20 per cent YoY to Rs 7,420 crore.
Commenting on the results, Satish Pai, Managing Director, said, “All our Aluminium India smelters operated at more than 90 per cent capacity during the lockdown. We maintained our sales volumes, with exports accounting for nearly 80 per cent of sales. This performance led to our Indian aluminium business recording an industry-high EBITDA margin.”
