Hindustan Zinc Q3 net profit rises 7% to Rs 1,723 crore

Profit of the company would have been better but for lower other income and higher tax outgo during the quarter

Higher revenue and better margins helped Hindustan Zinc's net profit to rise 7 per cent to Rs 1,723 crore in the third quarter of the current financial year from Rs 1,613 crore a year ago.

Profit of the company, with interests in zinc, lead and silver among others, would have been better but for lower other income and higher tax outgo during the quarter, it said in a BSE filing.

Though revenue and EBITDA (earnings before interest, taxes, depreciation and amortisation) were up by 9 per cent and 21 per cent to Rs 3,410 crore and Rs 1,828 crore, respectively, HZL's other income fell by Rs 78 crore and tax outgo went up by Rs 102 crore during the quarter.

"The increase (in revenue) was driven by higher zinc sales volume and rupee depreciation, partially offset by lower silver and acid prices," it said, adding that EBITDA improved due to higher integrated sales volume and rupee depreciation.