Hindustan Zinc Ltd on Tuesday released its fiscal third quarter earnings with profit at Rs 2,678 crore, posting a growth of 32.05 per cent in comparison to Rs 2,028 crore during the third quarter of previous financial year, surpassing estimates. The profit growth was driven by metal volume, cost reduction and market tailwinds, it said. It posted revenue from operations at Rs 8,315 crore, up 17.66 per cent as against Rs 7,067 crore during the corresponding quarter of FY24. The company EBITDA stood at Rs 4,499 crore.
According to a CNBC TV18 poll, Hindustan Zinc was expected to post Q3 profit at Rs 2,479 crore and revenue for the quarter was estimated at Rs 8,390 crore.
Also ReadSri Lanka-Adani power deal is still on: Govt spokesperson confirms, firm to lower wind power costs
The company reported mine metal production in the third quarter at 265 kt, up 3 per cent QoQ driven by higher mined metal grades and increase in production at Agucha and Zawar mines. The refined metal production in the third quarter stood at 259 kt, flat YoY and down marginally QoQ due to planned maintenance shutdown in Q3.
Also Read L&T Tech posts Q3 profit decline of 4.10% YoY to Rs 322.40 crore, revenue rises by 9.55% HCL Tech Q3 Results Highlights: Profit rises by 5.54% at Rs 4,591 crore, attrition rate at 13.2%; dividend declared TCS Q3 Results Highlights: TCS Q3 profit jumps nearly 12%, dividends announced – Details here TCS Q3 Earnings today: Here are 4 things the street is watching out for
Hindustan Zinc generated a healthy cash flow from operations (pre capex) of Rs 2,628 crore and delivered lowest cost of production at $1,041/MT in the last 15 quarters.
On a nine month basis, Hindustan Zinc posted a revenue of Rs 24,212 crore and profit stood at Rs 7,350 crore. During the period, it recorded mined metal production at 784 kt driven by improved mined metal grades and mill recovery and refined metal production at 783 kt. The company generated strong free cash flow from operations (pre capex) of Rs 9,664 crore.
Arun Misra, Chief Executive Officer, said, “Hindustan Zinc continues to execute its strategic priorities effectively while driving operational excellence with an emphasis on ESG and continuous improvement.
» Read More
