Aluminium & Aluminium Products company Hindalco Industries announced Q1FY24 results: Quarterly consolidated PAT at Rs 2,454 crore, up 2% QoQ Consolidated EBITDA at Rs 6,109 crore, up 5% QoQ Novelis’ adjusted EBITDA per ton at USD 479, up 11% QoQ All-time high copper metal sales at 118 Kt, up 1% QoQ Consolidated Net Debt to EBITDA at 1.73x at the end of June 30, 2023 (vs 1.39x as of March 31, 2023) Hindalco collaborates with Tata Motors to build the first-ever all-aluminium cargo body for the new generation Tata Ace EVs designed to enhance last-mile deliveries. Commenting on the results, Satish Pai, Managing Director, Hindalco Industries, said, “FY24 has started on a promising note. Our focus on expanding our value-added portfolio and operational efficiencies has enabled us to deliver sustained performance in the face of continued macroeconomic pressures. An enhanced product mix saw the Aluminium India Downstream Business generating higher value, with Q1FY24 EBITDA increasing by 31% QoQ. Despite significant market headwinds, Novelis continued to show sequential improvement in adjusted EBITDA and EBITDA per ton, backed by record sales of automotive aluminium sheets. The Copper Business achieved record metal sales and maintained its market share despite undergoing a planned shutdown. We will continue to strongly position our company for the future, by maintaining our focus on ESG, controlling costs, securitising resources, and driving downstream expansion.” Result PDF