Hindustan Zinc's Q1 standalone PAT rises to Rs1983cr; Zinc sales up 67% yoy

The sales also rose 63.62% to Rs6378cr in the quarter ended June 2021 as against Rs3898cr during the previous quarter ended June 2020.

Jul 23, 2021 03:07 IST India Infoline News Service

Hindustan Zinc
Shares of Hindustan Zinc ended on a flat note on the stock exchanges after reporting Q1FY22 numbers. The net profit of the company jumped by 45.92% to Rs1983cr in the quarter ended June 2021 as against Rs1359cr during the previous quarter ended June 2020.

The sales also rose 63.62% to Rs6378cr in the quarter ended June 2021 as against Rs3898cr during the previous quarter ended June 2020.

On a yoy basis, Zinc sales were up 67% at Rs4,291cr while silver sales were up 72% at 1,106cr. Lead sales also grew 37% yoy. In sequential terms, only sales from Zinc were higher whereas the other metals saw a fall. Prices of Zinc were up 49% yoy, while lead was up 27% yoy on the LME. Silver saw prices rise 63% on the LBMA.

Hindustan Zinc Ltd ended at Rs329.05 up by Rs2.05 or 0.63% from its previous closing of Rs327 on the BSE. The scrip opened at Rs331.40 and touched a high and low of Rs335.85 and Rs326 respectively.

Arun Misra, CEO said, “we delivered highest-ever Q1 ore, refined metal & silver production. After exiting at a run-rate of 1.2 mtpa in fiscal year 2021, we maintained the momentum of production in Q1 with Year-on-Year growth of 15% in ore, 17% in refined metal & 37% in silver inspite of the spurt in COVID cases in the second wave of the pandemic.”

Vinaya Jain, Sr. VP & Head Finance, said: We delivered our best ever Q1 Revenue, EBITDA and Profit after tax (PAT). Our strong balance sheet enables us to make proactive investments in operations and digitalization that will further enhance our mining output. We do recognize the headwinds from rising input commodity prices and are doubling our efforts to address them through long lasting structural cost initiatives.”

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