Over the previous yr, shares of Hindustan Zinc have fallen round 16 %.
Vedanta group agency Hindustan Zinc reported its third quarter web revenue at Rs 2,028 crore, marking an lower of 5.9 % on-year.
Within the corresponding quarter final yr, Hindustan Zinc reported a web revenue of Rs 2,156 crore. On a sequential foundation, the online revenue rose 17 % from Rs 1,729 crore.
The agency posted a income from operations at Rs 7,067 for the quarter ended December 2023, decrease by 7.4 % from Rs 7,628 crore on an on-year foundation. On a quarter-on-quarter foundation, the income was increased by 8 %.
The sequential enhance was a results of zinc & silver volumes, increased zinc costs and favorable trade charges partly offset by decrease lead costs and volumes, mentioned the corporate in a submitting with the bourses.
The earnings earlier than tax, depreciation and amortization (EBITDA) was Rs 3,560 crore for the quarter underneath evaluate, in comparison with Rs 3,717 crore in the identical quarter final yr, notching a 14 % fall on-year.
Mined metallic manufacturing for the quarter was 271 kt, up 8 % sequentially and seven % YoY, pushed by increased ore manufacturing and supplemented by improved mined metallic grades yr on yr.
For the 9 months ended December 2023 of the present monetary yr, the income from operations was Rs 21,383 crore, down 16 % YoY. The revenue throughout this time interval was Rs 5,721 crore, down 28 % on-year.
Discussing the earnings, Arun Misra, CEO, mentioned, “With our constant give attention to operational excellence, Hindustan Zinc delivered file nine-months mined metallic and silver manufacturing to leverage the elevated silver value alternatives.”
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He added that the corporate has been ranked the best within the S&P International Company Sustainability Evaluation (CSA) 2023 amongst 238 firms with the rating of 85 out of 100 underneath the metals and mining sector
Forward of the earnings, JM Monetary famous {that a} 7 % sequential rise in volumes would positively affect the income. EBITDA was anticipated to extend by 9 % QoQ primarily resulting from increased volumes, as properly.
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Over the previous yr, shares of Hindustan Zinc have fallen round 16 %. Compared, the frontline index, Nifty 50, has given buyers returns of round 19.5 % throughout the identical time interval.
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