Hindustan Zinc Q3 net profit down 3.7 pc at Rs 2211 cr

New Delhi, Jan 21: Vedanta Group firm Hindustan Zinc Monday posted 3.7 per cent decline in net profit to Rs 2,211 crore for the quarter ended December 31, 2018.
The company had posted a net profit of Rs 2,298 crore in the year-ago period.
The total income of the company declined marginally by 1.8 per cent to Rs 6,090 crore, compared to Rs 6,203 crore in the corresponding quarter previous fiscal.
“The all-round performance of our underground mines has been gratifying. As our ongoing projects are approaching completion, we are set to reach design capacity of 1.2 million tonnes per annum in the coming quarters. I am also delighted by the substantial increase in silver production which we expect to continue next year as well,” company’s Chairman Agnivesh Agarwal said.
Total mined metal output in the third quarter of the ongoing fiscal was up six per cent sequentially and up three per cent y-o-y (year-on-year) to 2,47,000 tonnes, driven by strong increase in underground ore production and improvement in ore grades.
Integrated metal production was 2,42,000 tonnes in Q3, up 14 per cent sequentially, with both zinc and lead production posting strong gains driven by higher mined metal availability.
The metal production was down one per cent from a year-ago period.
The integrated zinc output was 1,88,000 tonnes, up 16 per cent sequentially on account of higher mine output and improved mined metal availability.