In comparison to the similar figure of Rs 1,964 crore for the same quarter of the previous year (2023–24), Hindustan Zinc Ltd. announced on Friday a 19.4% increase in net profit to Rs 2,345 crore for the April–June quarter of the current financial year.
Operating revenue for the company increased by 11% to Rs 7,893 crore in the quarter from Rs 7,111 crore in the corresponding period of the previous fiscal year.
Better silver prices and increased metal volume were the main drivers of the income increase. At Rs 3,946 crore, the company’s EBITDA increased by 18% from the previous year.
Revenue for the first quarter of the company was Rs 6,421 crore for the zinc, lead, and other segments, Rs 1,427 crore for the silver segment, and Rs 45 crore for wind energy.
The corporation, which now commands a 75% domestic market share in the industry, saw a 14% increase in zinc sales during the first quarter.
The corporation, which is now the third-largest producer of silver in the world, reported a 10% increase in sales of the precious metal due to rising market prices.
“Has started the year on a strong note, recording highest ever first quarter mined and refined metal production, leveraging strong metal prices during the quarter,” stated CEO Arun Misra of the mining company. By receiving the initial flow of renewable energy electricity from the Serentica 180 MW solar project in May 2024, we have accelerated the start of our renewable energy power delivery.”
Additionally, he stated that the business intended to expand into upscale markets through strategic alliances in order to deliver next-generation nickel-zinc batteries and use waste streams to extract marketable materials.
