Hindalco alumina production records 16% growth YOY in Q2FY17

Hindalco Industries has announced the unaudited standalone results for the second quarter ended September 30, 2016. The company delivered robust operational performance in a challenging macroeconomic condition.

During the second quarter, alumina production (including Utkal Alumina) amounted to 726 KT which recorded 16% increase in comparison to the second quarter of 2015. Aluminium metal production stood at 321 KT and was up 19% on YoY basis.

The Utkal Alumina International Ltd. produced 375 KT of alumina during second quarter of FY17 compared to 338 KT in Q2 FY16 which recorded a growth of about 11%. What is noteworthy is the fact that the cost of production of alumina at Utkal Alumina refinery is comparable to the benchmark cost of production around the world. EBITDA for the Utkal Alumina International Ltd. during the current quarter was Rs. 170 crore.

Utkal serves as a captive alumina supplier to Hindalco. The numbers of Utkal are not simply additive for ascertaining financial performance of Utkal and Hindalco together. So, the standalone financials of Hindalco do not include financial performance of Utkal Alumina.

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