NEW DELHI: Vedanta group agency Hindustan Zinc Ltd (HZL) on Friday mentioned its consolidated net profit declined 21 per cent to Rs 2,038 crore for the quarter ended March 31, 2024, primarily on account of decrease zinc value. The firm posted a consolidated net profit of Rs 2,583 crore within the corresponding quarter of the earlier fiscal.
“Net profit for the quarter stood at Rs 2,038 crore, marginally up sequentially and down 21 per cent Y-o-Y (Year-on-Year),” Hindustan Zinc mentioned in a press release.
The drop in net profit is “on account of lower zinc prices, partly offset by significant cost improvement by 11 per cent and silver volume improvement by 5 per cent,” the corporate mentioned.
The consolidated revenue of the corporate within the January-March quarter declined to Rs 7,822 crore, over Rs 8,863 crore within the year-ago interval.
“FY2023-24 has been a year of solid growth for HZL, with mined metal, refined metal, and silver recording its highest historic production levels, supported by a backdrop of fatality-free operations. As part of our strategy, it was driven by our increased focus on silver & metal production and cost optimisation.
“The firm withstood the market headwinds through the yr, guaranteeing preservation of margins and shareholder worth,” the corporate’s Chief Executive Officer Arun Misra mentioned.
In the final monetary yr, the corporate contributed Rs 13,197 crore to the federal government treasury.
The firm generated a money stream of Rs 2,099 crore through the fourth quarter of FY24.
HZL mentioned it has a sturdy free money stream from operations put up capex of Rs 9,004 crore for FY24.
Hindustan Zinc is within the zinc, lead and silver companies. It is the world’s second largest built-in zinc producer and now the third largest silver producer. The firm has a market share of 75 per cent of the rising zinc market in India with its headquarters in Udaipur together with zinc, lead mines and smelting complexes unfold throughout Rajasthan.
“Net profit for the quarter stood at Rs 2,038 crore, marginally up sequentially and down 21 per cent Y-o-Y (Year-on-Year),” Hindustan Zinc mentioned in a press release.
The drop in net profit is “on account of lower zinc prices, partly offset by significant cost improvement by 11 per cent and silver volume improvement by 5 per cent,” the corporate mentioned.
The consolidated revenue of the corporate within the January-March quarter declined to Rs 7,822 crore, over Rs 8,863 crore within the year-ago interval.
“FY2023-24 has been a year of solid growth for HZL, with mined metal, refined metal, and silver recording its highest historic production levels, supported by a backdrop of fatality-free operations. As part of our strategy, it was driven by our increased focus on silver & metal production and cost optimisation.
“The firm withstood the market headwinds through the yr, guaranteeing preservation of margins and shareholder worth,” the corporate’s Chief Executive Officer Arun Misra mentioned.
In the final monetary yr, the corporate contributed Rs 13,197 crore to the federal government treasury.
The firm generated a money stream of Rs 2,099 crore through the fourth quarter of FY24.
HZL mentioned it has a sturdy free money stream from operations put up capex of Rs 9,004 crore for FY24.
Hindustan Zinc is within the zinc, lead and silver companies. It is the world’s second largest built-in zinc producer and now the third largest silver producer. The firm has a market share of 75 per cent of the rising zinc market in India with its headquarters in Udaipur together with zinc, lead mines and smelting complexes unfold throughout Rajasthan.
