PremiumVedanta group firm Hindustan Zinc on Wednesday said that its board has approved the second interim dividend of ₹15.50 per equity share for the current financial year 2022-2023. The total payout would amount to ₹6,549.24 crore.
"we wish to inform you that the Board of Directors of the Company through resolution passed by circulation on Wednesday, November 16, 2022 have approved second interim dividend of Rs. 15.50/- per equity share i.e. 775% on face value of Rs. 2/- per share for the Financial Year 2022- 23 amounting to Rs. 6549.24 Crores," Hindustan Zinc said in a BSE filing.
The record date for the purpose of payment of dividend is 24 November, 2022.
The second interim dividend will be paid within stipulated timelines as prescribed under law.
Meanwhile, Hindustan Zinc reported a consolidated net profit of ₹2,680 crore, up nearly 33% as compared to ₹2,017 crore in the corresponding quarter of the previous fiscal.
The company's revenue from operations grew by over 36% to ₹8,336 crore, on account of higher refined metal & silver volumes, gain from strategic hedging, zinc prices and favourable exchange rates partly offset by lower lead and silver prices, from ₹6,122 crore in the year ago quarter. The company said it delivered YoY increase in quarterly metal volume by 18%, silver by 28%.
EBITDA for the quarter under review came at ₹4,387 crore, up 31.7% YoY and down 16.9% sequentially, primarily due to higher revenues being partially offset by increased costs owning to the input commodity inflationary environment.
On Wednesday, shares of Hindustan Zinc rose about 1.56% to settle at ₹319.05 apiece on the BSE.