Hindustan Zinc tumbles after Q4 results

Hindustan Zinc fell 5.47% to Rs 309.20 at 14:30 IST on BSE after net profit declined 18.06% to Rs 2505 crore on 0.35% rise in net sales to Rs 6277 crore in Q4 March 2018 over Q4 March 2017.

The result was announced after market hours on Monday, 30 April 2018.

Meanwhile, the S&P BSE Sensex was up 9.66 points, or 0.03% to 35,170.02.

On the BSE, 1.92 lakh shares were traded in the counter so far compared with average daily volumes of 1.80 lakh shares in the past two weeks. The stock had hit a high of Rs 321.15 and a low of Rs 309 so far during the day. The stock hit a 52-week high of Rs 339.55 on 26 February 2018. The stock hit a 52-week low of Rs 226.75 on 25 May 2017.

Net profit rose 11.54% to Rs 9276 crore on 27.85% rise in net sales to Rs 22084 crore in the year ended March 2018 over the year ended March 2017.

Mined metal production in the quarter was 18% lower to 255 kilotonnes year-on-year, hurt by a decline in overall ore grades due to transition from open cast to underground mining, the company said.

Hindustan Zinc is the one of the largest integrated producers of zinc-lead with a capacity of 1.0 million MT per annum and a leading producer of silver.

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