Hindustan Zinc net up 36% on higher realisation

Hindustan Zinc, a Vedanta Group company, has reported a 36 per cent jump in December quarter net profit at ₹2,200 crore against ₹1,620 crore logged in same period last year, on the back of higher realisation and lower cost of production.

Revenue from operations was up 28 per cent at ₹5,915 crore (₹4,626 crore).

Zinc production was up two per cent at 1,82,000 tonnes while lead output increased 28 per cent to 52,000 tonnes and that of silver jumped 23 per cent to 183 tonnes.

Sales realisation from zinc was up 21 per cent at ₹3,835 crore while lead and silver increased 25 per cent and 66 per cent to ₹817 crore and ₹1,146 crore, respectively.

Zinc cost of production was down 12 per cent at ₹69,744 a tonne. Ebitda for the quarter under review was up 45 per cent to ₹3,314 crore.

Covid restrictions including stringent visa guidelines for Chinese nationals continued during the quarter and commissioning of Fumer plant at Chanderiya and the company is looking for alternative, it said.

The company has net cash of ₹10,987 crore at the end of December quarter against ₹17,832 crore in the same period last year.