Hindalco Q3 profit down 45% YoY on exceptional loss, EBITDA rises to ₹7,994 Cr
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Aluminium and copper major Hindalco Industries on Thursday reported a 45.14% year-on-year (YoY) fall in its consolidated net profit at ₹2,049 crore for the quarter ended December 31, 2025 (Q3 FY26). The company had reported a net profit of ₹3,735 crore during the same period last year (Q3 FY25).
Exceptional loss: The Oswego impact
The sharp decline in net profit was primarily due to an exceptional loss of ₹2,610 crore. This one-time charge is linked to operational disruptions at Hindalco's US subsidiary, Novelis. Specifically, a series of fire incidents at the Oswego plant in New York—the first in late September and a second in November 2025—severely impacted production volumes, led to high repair costs, and necessitated inventory write-downs.
Despite this non-recurring hit, the company’s underlying core performance remained resilient. Excluding this exceptional item, the Consolidated PAT before exceptional items rose 8% to ₹4,051 crore.
Operational performance
On the operational front, Hindalco’s consolidated revenue from operations grew by 14% YoY to ₹66,521 crore, compared to ₹58,390 crore in Q3 FY25. This growth was fuelled by steady demand and record-breaking contributions from the company's domestic India operations.
The consolidated EBITDA stood at ₹7,994 crore, marking a 5.4% rise from ₹7,583 crore reported during Q3 FY25. The company's EBITDA margin, however, dropped to 12.02% during Q3 FY26 as against 13% during Q3 FY25.
Segment-wise highlights
India business: The domestic business reached a milestone, reporting an all-time high PAT of ₹3,581 crore, a 24% increase YoY.
Aluminium upstream: Continued to perform strongly with a quarterly EBITDA of ₹4,832 crore (up 14% YoY).
Aluminium downstream: EBITDA surged by 55% to ₹233 crore, driven by better product mix and higher volumes.
Copper business: Revenue jumped 33% to ₹18,233 crore, supported by robust demand and higher shipments.
Managing director Satish Pai stressed that the India business effectively cushioned the impact of international volatility. Looking ahead, the company is focused on its capital expenditure plans, with the Bay Minette project on track and the Oswego facility expected to resume full operations by the first quarter of FY27.
The shares of Hindalco Industries ended 0.067% lower at ₹965.30 apiece on the national stock exchange on Thursday. The company's stock has risen over 61% in the past year, outperforming the benchmark Nifty 50 index that has risen nearly 11% during the same period.