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Low volumes, refinancing costs push down Hindalco Q4 profits by 43%

Usa India city Mumbai 2020 pandemic economy
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MUMBAI : Hindalco Industries Ltd, the flagship metals company of the Aditya Birla group, reported a 43% fall in its Q4 net profit to ₹668 crore, from ₹1178 crore in the previous year.

A marginal drop in volumes in key product segments, lower realisations and a refinancing cost of ₹568 crore for its US subsidiary Novelis in the quarter ended March 2020, put profits under pressure.For the full year, Hindalco reported net profit of ₹3767 crore, 31% lower than the ₹5,495 crore reported in FY19.The company has been able to keep costs under control, improving its EBITDA (earnings before interest, tax, depreciation and amortisation) year-on-year.

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United States
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Recovered: 0
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Brazil
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Deaths: 608 235
Recovered: 0
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United Kingdom
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Deaths: 141 607
Recovered: 0
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Russia
Cases: 8 494 589
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Recovered: 0
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Covid-19.rehab - the latest news concerning the spread of the SARS-CoV-2 coronavirus (formerly 2019-nCoV), as well as the infectious disease that it causes COVID-19, in separate countries and in the world as a whole. Current news on the topic of coronavirus SARS-CoV-2. Quarantine, pandemic 2020, epidemic: what is it, when will it come to end, precautions and how to protect yourself from this disease. The most honest news, no fakes! To keep up with the latest news, stay tuned for updates on the site! Every day we will collect news and statistics on coronavirus from around the world for you to be aware of this topic.

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