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Last Updated : Oct 22, 2018 03:16 PM IST | Source:

Hindustan Zinc Q2 net profit declines 29% at Rs 1,815 cr; declares interim dividend at Rs 20/share

Revenue was down 10 percent Rs 4, 777 crore against Rs 5,309 crore.

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Hindustan Zinc has reported second quarter net profit at Rs 1815 crore, down 29.5 percent against Rs 2,584 crore in the same quarter last fiscal.

The company had reported an exceptional gain of Rs 291 crore in Q2FY18.

Revenue was down 10 percent Rs 4, 777 crore against Rs 5,309 crore. EBITDA fell 22.8 percent at Rs 2334 crore, while margin was down at 48.9 percent.

The company declared interim dividend at Rs 20 per share.

The company’s mined metal production from underground mines for Q2 FY2019 was at all-time high of 232kt, up 10 percent sequentially and 44 percent yoy driven by 33 percent yoy increase in ore production.

Total mined metal production increased by 10 percent sequentially and 6 percent yoy after the closure of open-cast operations last year.

Agnivesh Agarwal, chairman of Hindustan Zinc said, "Our improved global ranking reflects increasing usage of technology, digitisation and innovation in our operations and care towards environment and communities. I am also pleased to note the special interim dividend of 1000 percent."

At 15:00 hrs Hindustan Zinc was quoting at Rs 287.50, up Rs 1.65, or 0.58 percent on the BSE.
First Published on Oct 22, 2018 03:07 pm

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