Hind Aluminium’s net sales in Q2 FY2024 nosedived by 65.96% Y-o-Y

Hind Aluminium Industries Limited announced its second quarter financial results ended September 30, 2023, whereby it posted a plunge of 65.96 per cent in net sales year-on-year from INR 1.41 crore to INR 0.48 crore. However, on a quarter-on-quarter calculation, the net sales in Q2 registered an increase of 26.32 per cent from INR 0.38 crore.

Hind Aluminium also reported that its net profit in Q2 FY2023-24 was INR 3.83 crore, down by 10.30 per cent year-on-year from INR 4.27 crore. The net profit also edged a quarter-on-quarter fall of 32.09 per cent from INR 5.64 crore, despite a quarterly growth in net sales. The fall in profit owes to weaker aluminium prices.

The company’s earnings per share (EPS) decreased to INR 6.25 in the September quarter of 2023 from INR 6.67 last year.

Hind Aluminium’s EBITDA stood negative at INR 2.72 crore in Q2 2023, seeing a sharp fall of 176.84 per cent from INR 3.54 crore during the corresponding period of the last year.

A day before Hind Aluminium announced its second quarter, its shares closed at INR 51.43 on November 12, giving 32.55 per cent returns over the last 6 months and 36.96 per cent over the last 12 months.