Net profit for the period more than doubled in value to ₹5,469 crore, a 144% jump compared to ₹2,234 crore reported in the same quarter last year. The figure was also higher than the CNBC-TV18 poll estimate of ₹5,059 crore.
Revenue for the quarter increased by 77% from the year-ago period to ₹13,747 crore. A CNBC-TV18 poll had pegged the figure to be ₹12,599 crore. Hindustan Zinc had reported a topline of ₹7,771 crore in the base quarter.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) also more than doubled from the year-ago quarter to ₹8,050 crore, compared to ₹3,859 crore earlier. The figure is also higher than the CNBC-TV18 poll of ₹7,698 crore.
EBITDA margin for the quarter expanded by over 7 percentage points from last year to 58.56% from 49.7% last year. However, the margins are lower than the CNBC-TV18 poll of 61.1%.
Hindustan Zinc’s zinc cost of production is lower by 16% from last year to $851 per tonne, which is the lowest quarterly cost for the company.
Shares of Hindustan Zinc recovered from the lows of the day and are now trading at the flat line at ₹531. The stock is down 13% so far this year.
