Gold Silver Reports (GSR) Hindalco Surges As Novelis Reports Strong Earnings – Shares of the Mumbai-based aluminium and copper producer rose as much as 4 percent, the most since April 19, to Rs 248.35 after its U.S.-based subsidiary Novelis reported strong earnings in March quarter.
Novelis reported record results for the fourth quarter and fiscal year 2018 with significant year-over-year increases in adjusted EBITDA, net sales, net income, free cash flow and shipments, Novelis said in a press release.
Key Q4 earnings highlights:
✅ Net profit attributable to common shareholder at $106 million
✅ Adjusted EBITDA up 9 percent to $319 million
✅ Net Sales increased 17 percent to $3.1 billion
✅ Reduced net debt leverage ratio to 3 times
