Hindustan Zinc Net dips 4 pc to Rs 2,230 cr

Hindustan Zinc today posted a marginal 3.8 per cent decline in net profit at Rs 2,230 crore for the quarter ended December 31, 2017.
The Anil Agarwal-led company had posted a net profit of Rs 2,320 crore in the year-ago period, Hindustan Zinc said in a filing to BSE.
However, the total income increased to Rs 6,220 crore, over Rs 5,975 crore in the corresponding quarter of the previous fiscal.
Underground mines contributed to 85 per cent of total production during the year so far, underpinning the company's successful transition to a fully underground mining company, Chairman Agnivesh Agarwal said in a statement.

"In the six years of our transformational journey, the company has consistently delivered higher production, profitability and record dividends, supported by increasing metal prices," he said.
The target of 1.2 million tonne of mined metal production is now within the company's reach, he said.

Mined metal production during the quarter was at 2.4 lakh tonne, up 10 per cent over the previous quarter and down 13 per cent year-on-year.
Refined zinc-lead metal production during December quarter was at 2.45 lakh tonne, up 7 per cent from the second quarter.
"Refined silver production (was) at 132 MT, down 6 per cent from September quarter and up 12 per cent year-on-year," the statement said.

The stock of the company settled at Rs 308.70 a piece, down 4.47 per cent on BSE today.