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HomeLatest NewsBusinessHindustan Zinc Q4 Results: Net Profit Declines 21% To Rs 2,038 Crore...

Hindustan Zinc Q4 Results: Net Profit Declines 21% To Rs 2,038 Crore – Prime Time News24


Final Up to date:

Hindustan Zinc This autumn Outcomes

Hindustan Zinc Ltd (HZL) reported a 21 per cent year-on-year drop in its fourth quarter internet revenue at Rs 2,038 crore

Hindustan Zinc Ltd (HZL) reported a 21 per cent year-on-year drop in its fourth quarter internet revenue at Rs 2,038 crore, hit by depressed zinc costs globally as demand is rising at a slower tempo than provide.

The corporate mentioned its income from operations fell 12.02 per cent YoY to Rs 7,285 crore for the fourth quarter in contrast with Rs 8,281 crore in the identical quarter final 12 months.

Hindustan Zinc mentioned the figures of the quarter that ended March 31, 2024 and corresponding quarter ended March 31, 2023 had been the balancing figures between audited figures for the total monetary 12 months ended March 31, 2024 and March 31, 2023 and 9 months unaudited printed figures as much as December 31, 2023 and December 31, 2022 respectively.

The consolidated earnings earlier than curiosity, tax, depreciation and amortisation (EBITDA) was Rs 3,637 crore for the quarter below evaluate, in comparison with Rs 4,208 crore in the identical quarter final 12 months, a 14 per cent fall on-year.

The autumn in income is because of considerably decrease zinc & lead costs and decrease lead quantity, partly offset by elevated zinc & silver volumes, silver costs and beneficial trade charges, the corporate mentioned.

The costs of important industrial metals reminiscent of copper, aluminium, zinc, and lead have surged considerably since April because of considerations concerning provide limitations. Nevertheless, value will increase ensuing from manufacturing cuts are unlikely to be sustained till there’s a vital uptick in zinc demand and the market shifts its focus away from anticipated surpluses of the metallic.

“Regardless of the plunging metallic costs, HZL has persistently sustained its margin at a gentle 47 per cent by recording its fifth consecutive quarter of sustained value discount, clocking the bottom value in final 3 years,” the corporate’s chief monetary officer Sandeep Modi.

Vedanta held 2,74,31,54,310 shares or 64.92 per cent stake in Hindustan Zinc as on March 31.

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