Hindalco Q4 profit drops 51 pc to Rs 2 597 cr due to impact of fire incidents at Novelis plant in US

New Delhi, May 22 (PTI) Aditya Birla Group's metal flagship Hindalco Industries on Friday said its consolidated net profit dropped by 50.8 per cent to Rs 2,597 crore in the March quarter of FY26, impacted by fire incidents at US subsidiary Novelis' plant.
     The company had posted a consolidated net profit of Rs 5,284 crore in the year-ago period, Hindalco Industries said in a statement.
     "Quarterly net profit was Rs 2,597 crore compared to Rs 5,284 crore in the same quarter last year, impacted by the Oswego (US) disruption," Hindalco said in a statement.
     However, the consolidated revenue from operations in the latest January-March quarter increased to Rs 78,133 crore from Rs 64,890 crore in the year-ago period.
     The consolidated net profit for the year-ended March 2026 declined to Rs 13,391 crore from Rs 16,001 crore recorded in FY25.
     Revenue from operations in the last fiscal increased to Rs 2,74,944 crore compared to Rs 2,38,496 crore in FY25.
     The company's board has recommended a final dividend of Rs 5 per equity share for FY26.
     Hindalco Industries Managing Director Satish Pai said that the company's India business delivered record performance across the aluminium upstream, aluminium downstream and copper businesses, with EBITDA at a historic high of Rs 22,671 crore for the full year.
     "Our downstream portfolio continues to scale up the new 170-KTPA flat rolled products facility at Aditya and the Chakan battery enclosure plant, while the battery foil plant at Aditya is commencing supplies to global cell manufacturers. Our copper recycling project is nearing commissioning, and the Inner Grooved Tube (IGT) plant is progressing well," he said.
     Novelis Inc, the US-based subsidiary of Hindalco Industries, on Tuesday reported a consolidated net loss of USD 84 million in the quarter ended March 2026, citing the impact of two fire incidents at its plant in Oswego, New York, in September and November last year.
     The statement said, "Oswego plant (is) expected to restart in next few weeks."
     The company further said that Novelis' Bay Minette facility in the USA is on track to complete commissioning in the second half of 2026.
     A USD 31-billion metal powerhouse, Hindalco, is the world's largest aluminium company by revenues, and the world's second-largest copper rods manufacturer.
     Hindalco operates across the value chain, from bauxite mining, alumina refining, coal mining, captive power plants and aluminium smelting to downstream rolling, extrusions, and foils. Along with its subsidiary Novelis, Hindalco is the global leader in flat rolled products and the world's largest recycler of aluminium.

(This story has not been edited by THE WEEK and is auto-generated from PTI)