Hindalco’s Fourth Quarter Results: Hindalco’s earnings for the January-March 2023 quarter exceeded CNBC-TV18 poll estimates on all fronts, including earnings, revenue, EBITDA and margin. However, with the exception of revenue, the company saw a year-over-year decline on all fronts.
Hindalco Industries released its results for the January-March 2023 quarter on Wednesday (May 24), in which it beat CNBC-TV18 poll estimates on all fronts, including profit, revenue, EBITDA and margin. . The metals manufacturing company was also able to reduce its net debt by nearly 18% following the release of working capital from its US subsidiary Novellis.
However, compared to the corresponding three-month period of the previous financial year, the company saw a sharp decline, except for own-source revenue, which increased by 5% to Rs 19,995 crore, from Rs 18,475 crore, in the March quarter (Q4FY22) of fiscal precedent.
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