Hindustan Zinc Ltd Q2FY17
Standalone Results Q2FY17: (Rs. in crore)
|EBITDA Margin (%)||53.6||323|
|Net Profit (adjusted)||1,902||[15.4]|
Hindustan Zinc’s Q2FY17 numbers came in above estimates. Revenue came in 15.2% higher than the street estimate of Rs 3365 cr. EBITDA margin was higher by 300 bps from the estimate of 50.5%. And net profit was 27.6% higher than the estimated figure of Rs 1491 cr.
Management guidance for a stronger H2 based on planned mine production.
Revenue for the quarter declined 11% yoy to Rs 3,877 cr. This was due to lower volumes partly offset by higher zinc and silver prices and rupee depreciation.
The EBITDA fell by 5.3% yoy to Rs 2,077 cr while EBITDA margins improved by 320 bps yoy to 53.6%. This was largely due to mined metal production being lower by 20% yoy while realizations improved and power and fuel expenses fell 61% yoy.
Net profit fell 15.4% yoy to Rs 1,902 cr primarily due to the change in the method of depreciation and lower other income due to smaller corpus.
Hindustan Zinc Ltd ended at Rs. 248.9, up by 4.05 points or 1.65% from its previous closing of Rs. 244.85 on the BSE.
The scrip opened at Rs. 246.8 and touched a high and low of Rs. 251.9 and Rs. 245.5 respectively. A total of 3967296(NSE+BSE) shares were traded on the counter. The stock traded below its 50 DMA.
BSE 303.45 7.95 (2.69%)
NSE 303.65 8.55 (2.90%)
***Note: This is a NSE Chart