Hindustan Zinc, a Vedanta Group company, has reported 27 per cent fall in December quarter net profit at ₹1,620 crore against ₹2,211 crore due to lower production and drop in realisation.
Revenue from operations was down 16 per cent at ₹4,626 crore (₹5,485 crore).
Mined metal production was down five per cent due to lower grades at Kayad and Sindesar Khurd mines.
Integrated metal and silver production at 219,000 tonnes, declined by 9 per cent and 16 per cent respectively in December quarter due to lower mined metal, lead production and lower silver grades.
Revenue from zinc, lead and other metals was down ₹3,908 crore (₹4,789 crore) while that of silver was up at ₹692 crore (₹678 crore) on the back of lower volume and a 9 per cent decline in zinc LME prices.
Zinc cost of production before royalty (COP) during the quarter was $1077 (₹76,571) a tonne, higher by 3 per cent
EBITDA during the quarter was ₹2,288 crore was down 20 per cent due to lower revenues.
As on December 31, the company had net cash and cash equivalents was ₹19,513 crore against ₹16,952 crore at the end of FY’19.
Shares of the company were down 0.23 per cent at ₹216 on Monday.