Hindustan Zinc's net profit increases by 56% to Rs3,092 crore in Q1

22 Jul 2022 , 08:37 AM

In the June quarter, Hindustan Zinc Ltd (HZL) recorded a consolidated net profit increase of 55.9% to Rs3,092 crore, primarily due to higher metal prices. According to a filing with the BSE, the company reported a combined net profit of Rs1,983 crore in the first quarter of the previous fiscal.

According to the report, the consolidated revenue from operations for the months of April through June climbed by 44.8% to Rs9,236 crore from Rs6,378 crore in the same period last year.

The company reported a net profit of Rs3,092 crore for the quarter, increasing 5.6% sequentially and 55.9% year over year.

The formation of a wholly-owned arm to establish a five lakh tonnes per year fertilizer factory has received board approval from HZL.

“The best first-quarter production of mined metal, refined metal, and silver were produced by Hindustan Zinc. We are fully prepared to deliver another outstanding performance this year with the exit run-rate for both mined and refined metal crossing over one million tonnes “Arun Misra, its CEO, stated.

Gross investments, cash, and cash equivalents for the company totalled Rs24,254 crore as of June 30. HZL is an integrated producer of zinc, lead, and silver and is a member of the Vedanta Group.