Vedanta subsidiary Hindustan Zinc Ltd. (HZL) has published its Q4 results wherein the company’s quarterly profits have declined 12% on an annual basis.
For the quarter ended in March 2023, the company’s revenues dropped 4% to Rs 8281 crores against Rs 8631 crores reported in the corresponding quarter last year. However, the revenues improved 8% sequentially on higher metal and silver volumes. Consequently, the EBITDA of the company declined 16% to Rs 4,208 crores and profits came in at Rs 2,583 crores, down 12% from Rs 2,928 crores reported in the same quarter last year.
For the full year, the results of HZL were fairly different. The company had its highest-ever production of over 1 million tonnes of metal with revenues growing 16% to Rs 34,098 crores. With high operational and annual performance, the annual PAT touched a lifetime high of Rs 10,511 crores.
For the next financial year i.e. FY24, the company has stated that it expects production of refined metal and mined metal to be higher with volumes of the same reaching around 1,050-1,075 Kt and 1,075-1,100 Kt respectively.
The stock of HZL closed at Rs 324.60 per share on Friday.
-Aman Agarwal.
