Vedanta group firm Hindustan Zinc's Q2 net profit rises 4% to Rs 2,017 cr

Vedanta group firm Hindustan Zinc Ltd (HZL) on Friday reported a 3.9 per cent rise in its net profit at Rs 2,017 crore for the quarter ended September 30, on the back of higher revenue from operations.

The company had posted net profit of Rs 1,940 crore in the year-ago period, Hindustan Zinc Ltd said in a regulatory filing.

The revenue from operations in the July-September quarter increased to Rs 5,958 crore, from Rs 5,533 crore in the year-ago period, the filing said.

The total expenses of the company during the quarter increased to Rs 3,571 crore, as against Rs 3,428 crore in the year-ago period.

"We delivered record high H1 mined metal production and mine development since transition to underground mining operations. With effective systems and planning, teams at Hindustan Zinc have strengthened the backbone of our operations, setting the stage right for us to deliver one million production mark," CEO Arun Misra said.

The company, he said, is progressing well on its Environmental, Social and Governance (ESG) journey and has committed to Net Zero emissions by 2050.

Hindustan Zinc has also joined the taskforce on nature-related financial disclosure to tackle nature-related risks proactively, he said, adding "we are proud and look forward to participating in British High Commission Conference of the Parties (COP26)."

The company's interim CFO Sandeep Modi said: "We delivered ever-highest H1 EBITDA despite operational challenges and external headwinds from ongoing global energy crisis. We believe that with operational challenges behind us, we have reset the system for a robust delivery in future."

The company said that it remains committed to protect its margins, generate robust free cash flow and invest in sustainability, all of which together will help HZL to create and deliver long-lasting value for its shareholders.

HZL further said that the board in its meeting constituted a sustainability and ESG Committee at board level to ensure the board oversight and provide strategic direction to the company on ESG matters.