For the full year to 31 March, Vedanta Group company Hindustan Zinc reported a net profit of `8,167 crore, almost unchanged from the `8,178 crore reported in the previous financial year.  (For the full year to 31 March, Vedanta Group company Hindustan Zinc reported a net profit of `8,167 crore, almost unchanged from the `8,178 crore reported in the previous financial year. )
For the full year to 31 March, Vedanta Group company Hindustan Zinc reported a net profit of `8,167 crore, almost unchanged from the `8,178 crore reported in the previous financial year.
(For the full year to 31 March, Vedanta Group company Hindustan Zinc reported a net profit of `8,167 crore, almost unchanged from the `8,178 crore reported in the previous financial year. )

Hindustan Zinc reports 8% rise in Q4 profit

The standalone net profit stood at `2,149.13 crore, up from the `1,997.44 crore a year ago

Mumbai: Vedanta Group company Hindustan Zinc Ltd (HZL) on Thursday reported an 8% rise in its standalone net profit for the quarter ended 31 March due to higher other income.

The standalone net profit stood at 2,149.13 crore, up from the 1,997.44 crore a year ago.

Other income rose 25% to 742.15 crore from 594.88 crore a year ago. The other income was higher due to mark-to-market gains in investment income, the company informed the BSE.

For the full year to 31 March, the company reported a net profit of 8,167 crore, almost unchanged from the 8,178 crore reported in the previous financial year.

Net sales for the March quarter fell 25% to 3,069.68 crore due to a decline in net sales of zinc and other metals. “The decrease was on account of lower zinc volumes and London Metal Exchange (LME), partly offset by higher volumes of lead and silver and rupee depreciation," the company said in its statement.

In a Bloomberg poll, 17 brokers had estimated a net profit of 1,565.86 crore and 18 analysts estimated a revenue of 3,233.61 crore for the quarter ended 31 March. The company reported an Ebitda (Earnings before interest, taxes, depreciation and amortization) of 1,296 crore for the March quarter, 35% than a year ago.

Mined metal production fell 30% year-on-year for the quarter from 2.69 lakh tonnes to 1.88 lakh tonnes. “The decrease was on account of lower production primarily from Rampura Agucha open pit... which was partially offset by record production from all the underground mines, especially Sindesar Khurd and Kayad mines, also resulting in higher lead and silver volumes," the company said in its statement.

On Thursday, Hindustan Zinc closed at 173.95 per share, flat from its previous close of 174.65 per share, while the benchmark index Sensex closed at 25,880.38 points, up 0.14%.

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