Mumbai, Aug. 12 -- Hindalco Industries said its US-based subsidiary Novelis Inc posted a 13% year-on-year rise in net sales to $4.7 billion for the first quarter of fiscal 2026, boosted by higher average aluminium prices and a 1% increase in total rolled product shipments to 963 kilotonnes. Growth in beverage packaging volumes was partly offset by weaker automotive and specialty shipments.

Net income attributable to the common shareholder dropped 36% to $96 million, hurt by restructuring charges and lower operating performance, partially cushioned by favourable metal price lag. On an adjusted basis, net income slid 43% to $116 million, while adjusted EBITDA fell 17% to $416 million. The decline was driven by higher aluminium scrap costs,...