Hindustan Zinc Q4 Net Profit Drops 12% To ₹2,583 Cr, Revenue Down By 3%

The total sales for the company was down by 3 per cent to ₹8,509 crore from ₹8,797 crore in the corresponding quarter of the previous year. Zinc sales dropped the most at 9 per cent, while other metals saw a rise in sales.

For the quarter, Hindustan Zinc reported its best-ever production of mined metal at 301 kilotonnes (kt) and refined metal at 269 kt.

“As of Mar’23, total ore reserves stands at 173.5 Mt (net of production of 16.7 Mt in FY23), as against 161.2 Mt at the end of FY22 led by continued focus on resource to reserve conversion during the year. Total R&R stood at 460.1 Mt containing metal of 30.8 Mt (up by c.21% net of production in last decade)," said Hindustan Zinc.

Integrated zinc production for the quarter was at 215 kt, an increase of 1.9 percent y-o-y and 2.3 percent sequentially. Integrated lead production for the quarter was at 54 kt, an increase of 10.0 percent y-o-y and 16.9 percent sequentially, on account of better plant availability and consistent MIC flow from mines, the company said.

There was record annual refined metal production at 1,032 kt, a growth of 6.7 per cent YoY, Hindustan Zinc said, adding, it was also best-ever full year integrated zinc production at 821 kt, a growth of 5.8 per cent YoY and integrated lead production at 211 kt, a growth of 10.2 percent YoY.

“We are progressing well on our strategic development projects directed towards capacity expansion, synergetic growth, and value integration," . Arun Misra, CEO, Hindustan Zinc.

Sandeep Modi, CFO of the company said, this year, Hindustan Zinc surpassed its own records by delivering best ever financial performance, recording its highest ever annual revenue, EBITDA and PAT.

On Friday, the company's scrip ended 0.89 per cent down at ₹322.90 on BSE.