Companies

Hindustan Zinc’s profit down 24%

Our Bureau | | Updated on: May 02, 2019
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Hindustan Zinc has reported a 24 per cent fall in its March quarter net profit at ₹2,012 crore (₹2,505 crore), due to a drop in metal realisation.

Net sales were down 13 per cent at ₹5,384 crore (₹6,174 crore) due to lower prices and zinc volume, though it was partly offset by higher lead and silver volumes and rupee depreciation.

Cost of zinc production before royalty during the quarter was $987 (₹69,545) per tonne, up 7 per cent. EBITDA was ₹2,797 crore, down 23 per cent.

Kiran Agarwal, Chairman, Hindustan Zinc said the financial year was a “landmark period as we achieved an exit run-rate of over a million tonne per annum entirely from underground operations, even after planned closure of open-cast operation.”

Published on May 02, 2019

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