Hindustan Zinc, a Vedanta Group company, reported that its net profit in the March quarter was up 18 per cent at ₹2,928 crore against ₹2,481 crore logged in the same period last year, largely on back of better realisation.

Revenue from operations were up at ₹8,613 crore (₹6,725 crore). Overall expenses increased to ₹4,717 crore (₹3,899 crore) due to higher power cost at ₹769 crore (₹469 crore) and mining royalty payment at ₹1,178 crore ( ₹893 crore).

Mined metal production was up three per cent at 2.95 lakh tonnes on account of higher ore production at Rajpura Dariba, Sindesar Khurd and Rampura Agucha mines.

Zinc production cost before royalty was 20 per cent at $1,136 ( about ₹85,378) a tonne. The cost of production was affected largely on account of higher coal prices and input commodity inflation, partially offset by higher volume, better Sulphuric Acid realizations and improved recoveries.

The company has received consent to establish Hindustan Zinc Alloys for setting up a 30,000 tonne plant.

Renewable power project

The board has approved plans to undertake long-term captive renewable power development project of 200 MW. The project will be built under the Group captive norms and on a Build Own Operate basis and delivery of power from 2025.

During the year, the company paid ₹15,676 crore to the Government treasury through royalties and taxes, which was 53 per cent of total operating revenue.

It has gross investments and cash equivalents of ₹20,789 crore as against ₹17,040 crore as of December-end.

Sandeep Modi, Interim CFO, said with ongoing asset optimisation and integration initiatives and proactive measures towards combating input commodity inflation, the company will continue to produce essential resources and create shareholders value.

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