Novelis Sees 27% Profit Surge Amid Higher Aluminum Prices, Faces Fire Setback

Novelis, a subsidiary of Hindalco Industries, reported a 27% profit surge to $163 million despite a setback from a fire at its New York City plant, highlighting the impact of rising aluminum prices.

• For the September quarter, Novelis achieved a 27% year-on-year net income growth, amounting to $163 million, driven by higher aluminum prices.
• Despite a 10% increase in net sales to $4.7 billion, Novelis faced a 9% decline in adjusted EBITDA due to tariff impacts and fluctuating scrap prices.
• The fire at Novelis Oswego plant in New York City is expected to negatively affect free cash flow by $550 - $650 million throughout the current fiscal year.