Hindalco Industries Ltd. reported a fall in revenue and profit but still beat analyst estimates for the quarter ended March 2023.
Hindalco's aluminium (upstream and downstream) segment had an Ebitda of Rs 2,305 crore, a 40% year-on-year drop. However, it was 32% higher than the previous quarter. Novelis continued to grow despite Hindalco's decline in profitability, with 2% year-on-year growth in Ebitda.
Shares of Hindalco ended 0.83% lower at Rs 406.1 apiece on Wednesday after it declared the results, as against a 0.34% drop in the benchmark Nifty.
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