Novelis Inc Q2 Net Income Rises 29%

New Delhi: Novelis Inc., a subsidiary of Aditya Birla group firm Hindalco Industries, on Thursday reported a 29 per cent increase in net income to USD 210 million in the September quarter, aided by recoveries from insurance following fire incidents at a US plant.

The company had posted a net income of USD 163 million in the year-ago period.

“Net income attributable to our common shareholders grew 29 per cent year-over-year to USD 210 million in the second quarter of fiscal year 2027. The increase was due primarily to insurance recoveries related to the 2025 Oswego fires and a 20 per cent increase in adjusted EBITDA to USD 508 million,” the company said in a statement.

The company’s net sales grew to USD 5,942 million from USD 4,744 million in the year-ago period.

Net sales for the second quarter of FY27 increased 25 per cent, the company said, adding that the increase was primarily due to higher average aluminum prices.

“We delivered strong quarterly results, reflecting disciplined execution, resilient demand and favourable market conditions,” Steve Fisher, president and CEO of Novelis Inc., said.

“We are excited about the opportunities ahead as Bay Minette moves closer to commercial production, increasing our ability to serve the undersupplied North American market. With the industry’s most extensive rolling and recycling network and a market-leading position, Novelis is uniquely positioned to meet growing demand for sustainable aluminium solutions,” he said.

Novelis is a subsidiary of Hindalco Industries Limited, an industry leader in aluminum and copper, and the metals flagship company of the Aditya Birla Group, a multinational conglomerate based in Mumbai.

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