Novelis Inc announced net income attributable to its common shareholder of USD 120 million for the Q2 of fiscal 2012 compared to net income of USD 62 million for the same period in fiscal 2011.

Shipments of aluminum rolled products totaled 720 kilo tonnes for the Q2 of fiscal 2012, a decrease of 2% compared to shipments of 737 kilo tonnes in the Q2 of the previous year. This slight decrease in shipments was driven by economic uncertainty in the United States and Europe and unseasonably cool and wet weather across a number of the Company's operating regions which resulted in customer destocking in the quarter.

Net sales for the Q2 of fiscal 2012 were USD 2.9 billion an increase of 14% compared to the USD 2.5 billion reported in the same period a year ago mainly the result of strong conversion premiums and higher average aluminum prices.

Adjusted EBITDA for the quarter was USD 301 million representing 3% increase from adjusted EBITDA of USD 291 million posted for the same period a year ago. These operating results were primarily due to strong conversion premiums and effective cost management.

Mr Phil Martens president & CEO of Novelis said that "We are particularly proud of the results we realized for the Q2. Together with our record Q1 performance this positions us well to achieve another record year. As a result of our premium product portfolio, which is largely comprised of recession resistant products and other products which have strong favorable substitution trends, we've produced consistent and predictable results."