Hindalco Industries is set to invest $4 to $5 billion over the next three years to expand its aluminium and copper upstream facilities, the company announced on Monday. This investment will include the construction of a new aluminium smelter, alumina refinery, copper smelter, and copper recycling plant, according to Managing Director Satish Pai during the earnings call.

The Aditya Birla Group’s metal flagship reported a 78% year-on-year increase in consolidated net profit for the September quarter, reaching ₹3,909 crore, primarily driven by strong performance in its India business.

"Our India operations delivered a robust performance in Q2, supported by our focus on operational reliability and cost management," Pai stated. "As a result, our India upstream aluminium business achieved an EBITDA per tonne of $1,349, the highest in the past 10 quarters and the best in the industry globally."

Revenue from the upstream aluminium business grew by 16% year-on-year, reaching ₹9,125 crore, while EBITDA surged 79% to ₹3,709 crore, benefitting from reduced input costs and resulting in an impressive 41% operating margin.

The downstream aluminium business generated ₹3,161 crore in revenue, marking a 20% increase compared to the previous year. Additionally, the company’s copper business saw record Ebitda of ₹819 crore, up 27% year-on-year.

Overall, Hindalco saw a more than 7% increase in consolidated revenue to ₹58,203 crore, and its EBITDA rose by 49% to ₹9,100 crore, up from ₹6,096 crore in the previous year.