Novelis Inc Net Income Rises 71% in April-June

New Delhi: Novelis Inc, US-based aluminium producer and subsidiary of Hindalco Industries, on Wednesday reported a 70.8 per cent rise in consolidated net income at USD 164 million in the June quarter of FY27, supported by strong execution, favourable market trends and continued demand for sustainable aluminum solutions.

The company had posted a consolidated net income of 96 million dollar in the year-ago period.

Net sales of the company during the quarter rose to USD 5,793 million in the reporting quarter from USD 4,717 million in the year-ago period, Hindalco Industries said in a regulatory filing.

The increase was primarily due to higher average aluminium prices, which was partially offset by a five per cent decrease in total rolled product shipments to 916 kilo tonnes. The impact of the shipment was related to production disruptions due to fire incidents at the Oswego plant in fiscal year 2026, the company said.

The increase in net income was primarily due to favourable metal price lag resulting from higher metal prices, it said.

“We are pleased to start the new fiscal year on a positive note, supported by strong execution, favourable market trends and continued demand for sustainable aluminium solutions,” Novelis Inc president and CEO Steve Fisher said.

Momentum continues to build, buoyed by the successful restart of Oswego hot mill in early June. At the same time, the initial commissioning of key assets at Bay Minette represents another important step in strengthening the company’s operational capabilities and positioning Novelis for its next phase of growth, Fisher said.

“With Oswego back online and Bay Minette’s commissioning process getting underway, we are confident in our expectation to return to positive free cash flow in the fourth quarter of this fiscal year,” Dev Ahuja, executive vice president and CFO, Novelis Inc, said.

A fire broke out at the Novelis plant in Oswego, New York in September last year. When the repair work was going on, the plant was again hit by a fire incident in November.

Oswego hot mill restarted operations in early June, and production activities are ramping up to support pent-up demand and normalise shipments.

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