Hindustan Zinc Q4 results: Net profit falls 12% to Rs 2,583 crore, revenue down 3%

Hindustan Zinc Ltd (HZL) on Friday reported a fall of 12 per cent in consolidated net profit to Rs 2,583 crore for the quarter ended March 2023 compared with the corresponding period a year ago. Vedanta group company Hindustan Zinc's revenue declined 3.3 per cent on a year-on-year basis to Rs 8,509 crore, according to a regulatory filing. 

Hindustan Zinc reported record production of mined metal and refined metal, at 301 kilotonnes and 269 kilotonnes respectively.

“By registering a historic high annual operational and financial performance, it was undeniably a landmark year for Hindustan Zinc. This year saw us accomplish the superlative milestone of crossing 1 million tonne metal mark which is a true reflection of our persistent focus on volume delivery and operational efficiency. Further, we are progressing well on our strategic development projects directed towards capacity expansion, synergetic growth, and value integration," said HZL CEO Arun Misra.  

The company's production of integrated zinc increased 1.9 per cent on a year-on-year basis to 215 kilotonnes and lead 10 per cent to 54 kilotonnes, according to the filing.

 “This year, Hindustan Zinc surpassed its own records by delivering bestever financial performance, recording its highest ever annual revenue, EBITDA and PAT. This feat was attributable to our pioneering efforts towards operating efficiently resulting in cost optimisation,” said Sandeep Modi, CFO, HZL. 

Hindustan Zinc shares ended 0.9 per cent lower at Rs 324.4 apiece on BSE minutes after the earnings announcement. 

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