ETMarkets.comShares of group firm tumbled 9.3% to Rs 342.2 in Friday's trade on BSE after the company reported a net profit of Rs 2,156 crore, down 20% year-on-year (YoY) for the December 2022 quarter.
Revenue from operations during the quarter fell 2% YoY to Rs 7,866 crore during the period under review. The decline in revenues was mainly due to lower LME coinciding with lower refined metal and silver volumes.
Whereas, EBITDA for the quarter came in at Rs 3,717 crore, a decline of 15% YoY.
The company has also declared an interim dividend of Rs 13 per share for the financial year 2022-2023.
The dividend will amount to about Rs 5,493 crore. The company has fixed a record date of January 30 for the purpose of payment of the third interim dividend to eligible shareholders.
At 10 am, the scrip was trading 6.4% lower at Rs 353.5 over its last day's closing price of Rs 377.55 apiece. However, the stock has risen about 26% in the last six months.
“Hindustan Zinc delivered the best-ever 9 months refined metal on the back of the highest ever mined metal. In FY22, we reached the one million tonne mined metal landmark, and this year with the current run-rate, we are confident of achieving the one million tonne refined metal mark and are fully geared to deliver another stellar annual performance," said Arun Misra, CEO, Hindustan Zinc.
On the operational front, mined metal production for the quarter was at 254 kt (kilo tonne), marginally up from the previous year's period, driven by higher ore production. The company has clocked the highest-ever nine months of mined metal production at 761 kt, led by higher ore production, improved mined metal grades and operational efficiency.
Zinc production during the quarter was at 210 kt, down 1.7% YoY, while Lead production was at 46 kt, lower by 1.4% YoY.
Revenue from operations during the quarter fell 2% YoY to Rs 7,866 crore during the period under review. The decline in revenues was mainly due to lower LME coinciding with lower refined metal and silver volumes.
Whereas, EBITDA for the quarter came in at Rs 3,717 crore, a decline of 15% YoY.
The company has also declared an interim dividend of Rs 13 per share for the financial year 2022-2023.
The dividend will amount to about Rs 5,493 crore. The company has fixed a record date of January 30 for the purpose of payment of the third interim dividend to eligible shareholders.
At 10 am, the scrip was trading 6.4% lower at Rs 353.5 over its last day's closing price of Rs 377.55 apiece. However, the stock has risen about 26% in the last six months.
“Hindustan Zinc delivered the best-ever 9 months refined metal on the back of the highest ever mined metal. In FY22, we reached the one million tonne mined metal landmark, and this year with the current run-rate, we are confident of achieving the one million tonne refined metal mark and are fully geared to deliver another stellar annual performance," said Arun Misra, CEO, Hindustan Zinc.
On the operational front, mined metal production for the quarter was at 254 kt (kilo tonne), marginally up from the previous year's period, driven by higher ore production. The company has clocked the highest-ever nine months of mined metal production at 761 kt, led by higher ore production, improved mined metal grades and operational efficiency.
Zinc production during the quarter was at 210 kt, down 1.7% YoY, while Lead production was at 46 kt, lower by 1.4% YoY.
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