Novelis Q2 Profit Down 18% to $128 Million | Hindalco News

New Delhi, Nov 6 (PTI) Novelis Inc, the US-based aluminium producer and subsidiary of Hindalco Industries, on Wednesday reported an 18 per cent decline in net income to USD 128 million in the September quarter of 2024-25.

The US-based company, which deals in aluminium rolled products, had reported a net income of USD 157 million in the same period of the last financial year, the company said in a filing to BSE.

"Net income attributable to our common shareholder decreased 18% versus the prior year to USD 128 million in the second quarter of fiscal year 2025," the filing said.

Net sales for the second quarter rose by 4.5 per cent to USD 4,295 million over USD 4,107 million in the year-ago period, mainly driven by higher average aluminium prices and a one per cent rise in total flat rolled product shipments to 945 kilotonnes.

"Our global footprint allowed us to achieve record beverage packaging shipments in the quarter and also mitigate the impact to customers from the flooding-related outage at Sierre," Steve Fisher, President and CEO, Novelis Inc said.

"We are more focused than ever on diligently managing the balance sheet as we continue to progress the growth investments we have underway and navigate shifting market dynamics," Devinder Ahuja, executive vice president and CFO, Novelis Inc said.