Hindustan Zinc dips 3% on profit booking post December quarter results

Analysts at Emkay Global Financial Services believe the stock already captures any upside in the near term, however, a dividend yield of 7.4 per cent supports valuations

Shares of Hindustan Zinc slipped 3 per cent to Rs 286 on the BSE in an otherwise strong market on Thursday as investors booked profit after the company reported a steady performance for the quarter ended December 2020 (Q3FY21).

During the quarter, the company’s net profit increased 36 per cent year on year (YoY) at Rs 2,198 crore against Rs 1,620 crore in the Q3FY20. Total revenue grew 29 per cent YoY at Rs 6,033 crore. EBITDA (earnings before interest, taxes, depreciation, and amortization) margin improved 519 basis points (bps) at 54 per cent from 49 per cent in