Hindustan Zinc Q2 net profit rises 33% to Rs 2,680 crore; revenue up 36%

Hindustan Zinc, a Vedanta group company, on Friday reported a consolidated net profit of Rs 2,680 crore, up nearly 33 per cent as compared to Rs 2,017 crore in the corresponding quarter of the previous fiscal.

Shares of Hindustan Zinc were up 0.88 per cent to Rs 280 apiece on the BSE at the close of trade on Friday. 

The company's revenue from operations grew by over 36 per cent to Rs 8,336 crore, on account of higher refined metal and silver volumes, gain from strategic hedging and zinc prices. Revenue in the year-ago period stood at Rs 6,122 crore.

Earnings before interest tax depreciation and amortization (Ebitda) for the quarter stood at Rs 4,387 crore, up 31.7 per cent y-o-y and down 16.9 per cent sequentially.This was due to input cost pressures, the company said. 

Arun Misra, chief executive officer, Hindustan Zinc, said: “We have sustained the last twelve months run-rate for both mined and refined metal above one million tonnes. In-line with our commitment to net zero by 2050, we have signed a power delivery agreement for sourcing up to 200 mega-watts renewable energy, which will reduce 1.2 million tonnes of carbon emission."