Hindustan Zinc Q4 profit falls 18% to Rs2,505 crore
India’s Hindustan Zinc Ltd, a unit of Vedanta Ltd, on Monday posted an 18% fall in fourth-quarter net profit, hurt by lower zinc sales.
Net profit fell to Rs2,505 crore ($377.46 million) in the quarter ended 31 March from Rs3,057 crore a year earlier, the zinc miner said in a statement on Monday.
Total income slipped 6.5% to Rs6,763 crore, while revenue from its biggest segment zinc fell 11% to Rs4,564 crore.
Mined metal production in the quarter was 18% lower to 255 kilotonnes year-on-year, hurt by a decline in overall ore grades due to transition from open cast to underground mining, the company said. Reuters