Hindustan Zinc Q4 net profit up 8% to Rs 2,149 cr

Hindustan Zinc Ltd (HZL) today reported a 7.59 per cent increase in net profit to Rs 2,149.13 crore for the March quarter.
The NRI billionaire Anil Agarwal-led firm had clocked a net profit of Rs 1,997.44 crore in the year-ago quarter, it said in a regulatory filing.
Total income of the company fell 20.07 per cent to Rs 3,132.39 crore in January-March quarter of the last fiscal as against Rs 4,125.68 crore during the corresponding period in FY 2014-15.
Total expenses during the quarter declined to Rs 2,017.30 crore, from Rs 2,147 crore a year ago.
Hindustan Zinc Chairman Agnivesh Agarwal said: "Hindustan Zinc has come a long way since its incorporation 50 years back and it gives me immense pleasure to acknowledge that the company has created enormous value for its shareholders over the last decade culminating in Special Golden Jubilee dividend paid out earlier this month."

"While the year witnessed volatile commodity prices and depressed market sentiments in general, Hindustan Zinc continued to outperform its previous operational records as well as generate unparalleled value for shareholders consistently," he added.

The company during the quarter had record integrated silver metal production at 122 million tonnes (MT), 65 per cent on year-on-year basis.
The lead production increased by 16 per cent during the quarter under review at 38 KT while zinc production was down 29 per cent over corresponding quarter in the last fiscal at 154 KT.
"Mined metal production in Q4 was 188 kt, 30 per cent lower.... The decrease was on account of lower production primarily from Rampura Agucha open pit as per the mine plan, which was partially offset by record production from all the underground mines especially Sindesar Khurd and Kayad mines, also resulting in higher lead and silver volumes," the company said in a statement.

The company said refined metal production during the year was higher than mined metal production, primarily on account of conversion of existing mined metal inventory and enhanced smelter efficiencies.
Integrated zinc, lead and silver metal production during the year increased by 5 per cent, 33 per cent and 58 per cent, respectively from previous year.
The company said the decrease in its revenue for the quarter was "on account of lower zinc volumes and LME, partly offset by higher volumes of lead and silver and rupee depreciation."
For the full year, its net profit was almost flat at Rs 8,166.58 crore.

"Revenue were marginally lower at Rs 13,959 crore primarily on account of lower LME and silver prices, largely offset by higher volumes and rupee depreciation," the company said.
The shares of the company closed 0.40 per cent down at Rs 173.95 apiece on BSE.