Hindalco Q1 Results: Profit declines 40% YoY to Rs 2,454 cr; revenue falls 9%

Hindalco Industries on Tuesday reported a 40.4% year-on-year (YoY) drop in consolidated net profit for the June 2023 quarter to Rs 2,454 crore. Revenue from operations declined nearly 9% YoY to Rs 52,991 crore. On the standalone level, the net profit plunged 59% on year to Rs 600 crore but was a tad higher than the ET Now poll of Rs 590 crore. Sales rose a mere 2% YoY to Rs 19,904 crore but topped the estimated Rs 17,753 crore.