Hindustan Zinc, a subsidiary of Vedanta Resources, has reported a net profit of Rs. 2,545 Crore for the quarter ended 30 September, which represents an increase of 34% year-on-year.
Earnings (EBITDA) came in at at Rs. 3,052 Crore, up 47% y-o-y.
The Company also stated that its interim dividend is Rs. 2 per share.
Other highlights for the quarter include:
- Hindustan Zinc globally ranked 3rd in 'Environment' and 11th 'Overall' in the Dow Jones Sustainability Index amongst Mining & Metal companies
- Refined zinc-lead metal production at 230kt, up 27% y-o-y
- Record refined silver production at 140 MT, up 31% y-o-y
- Mined metal production at 219kt, up 14% y-o-y
Highlights for the first half are:
- Refined zinc-lead metal production at 459kt, up 49% y-o-y
- Refined silver production at 255 MT, up 30% y-o-y
- Mined metal production at 452kt, up 42% y-o-y
- EBITDA at Rs. 5,456 Crore; up 70% y-o-y
- Net Profit at Rs. 4,421 Crore, up 50% y-o-y
Mr. Agnivesh Agarwal, Chairman, said:
"I am delighted to note the smooth transition to underground mining. Against a 5 year CAGR of 39% of our mined metal production, we expect this year's underground growth to be over 60%, demonstrating one of the best transitions globally. As our journey of 1.2 million MT of mined metal is coming closer, we are evaluating the next phase of our capacity expansion. The accelerating LME and record silver volumes are key drivers of our performance this quarter, though the higher commodity cycle is putting some pressure on our cost."
At 1:38pm: (LON:VED) Vedanta Resources PLC share price was +11.5p at 881p