Hindustan Zinc Q3 Profit Rises 32% to Rs 2,678 Crore

New Delhi, Jan 28 (PTI) Vedanta group firm Hindustan Zinc Ltd on Tuesday reported a 32 per cent rise in consolidated net profit at Rs 2,678 crore for the quarter ended December 31, 2024 on the back of higher income.

The company had posted a net profit of Rs 2,028 crore in the year-ago period, Hindustan Zinc said in a regulatory filing.

The consolidated income of the company in the October-December period rose to Rs 8,832 crore, over Rs 7,606 crore in the year-ago period.

The total expenses of the company during the third quarter rose to Rs 5,305 crore, from Rs 4,937 crore in the corresponding quarter of the previous fiscal.

"Profit after tax for the quarter stood at Rs 2,678 crore, up 32 per cent Y-o-Y and 15 per cent Q-o-Q in line with the higher EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization)," the company said in a statement.

The total revenue from operations during the quarter was at Rs 8,614 crore, up 18 per cent Y-o-Y driven by higher zinc and silver prices and strong dollar.

The company's Chief Executive Officer Arun Misra said that the company continues to execute its strategic priorities effectively while driving operational excellence with an emphasis on ESG and continuous improvement.

"As a result, we have achieved our highest-ever production of mined and refined metals over the past nine months. This demonstrates the underlying strength of our assets and consistent performance, all further supported by positive market trends," he said.

As on December 31, 2024, the company had healthy gross investments and cash and cash equivalents of Rs 8,153 crore invested in high-quality debt instruments. Total borrowings outstanding as on December 31, 2024, was Rs 12,270 crore.

The company's net debt stood at Rs 4,117 crore as against Rs 5,721 crore as on September 30, 2024.

"With a robust balance sheet, we are well positioned to execute our growth strategy and create value for shareholders through sustained operational excellence and cost-cutting efforts," the company's Chief Financial Officer Sandeep Modi said.

Hindustan Zinc Ltd is the world's second-largest integrated zinc producer and the third-largest silver producer. The company supplies to more than 40 countries and holds a market share of about 75 per cent of the primary zinc market in India.