Hindustan Zinc Q2 profit rises 33% to Rs 2,680 crore

Hindustan Zinc

Vedanta Group firm Hindustan Zinc on Friday reported 32.8 per cent rise in consolidated net profit at Rs 2,680 crore for September quarter 2022-23.

The company had posted a net profit of Rs 2,017 crore for the year-ago period, Hindustan Zinc said in a filing to BSE.

''Net profit for the quarter was at Rs 2,680 crore...on account of higher zinc volumes and prices, gain from strategic hedging, and favourable exchange rates while being partially offset by the rising input commodity prices and lower lead and silver prices,'' the company said in a statement.

Revenue from operations in July-September period increased to Rs 8,127 crore from Rs 5,958 crore in the year-ago quarter, the filing said.

''Our world-class mining assets backed with our zeal for operational excellence has enabled us to deliver consistent results in the toughest of circumstances. We have further accelerated our digitalisation efforts to aid in our business efficiency and safety,'' Hindustan Zinc CEO Arun Misra said.

The company's mined metal output during the period under review was at 2,55,000 tonne, up 2.8 per cent on the back of better grades and improved mill recoveries.

Hindustan Zinc's integrated metal production in the quarter was 2,46,000 tonne, up 17.5 per cent year-on-year.

The company is the country's only integrated producer of zinc, lead and silver. It has its headquarters in Udaipur, Rajasthan where it has its zinc, lead mines and smelting complexes.