Hindalco Share Price Surges As Novelis Reports Strong Earnings

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

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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