Hindustan Zinc has announced its October-December results for fiscal 2023-24 (Q3FY24), reporting a 17 percent increase in standalone net profit at ₹2,038 crore, compared to ₹2,157 crore in the year-ago period.
For the nine months ended December 31, 2023, the company’s revenue was down 7 percent at ₹7,310 crore, compared to ₹7,866 crore in the year-ago period, the company said in a regulatory filing.
The EBITDA for Q3FY24 stood at ₹3,560, down 4 percent, compared to ₹3,717 crore in the year-ago period. For 9 months FY24, EBITDA was ₹10,040 Crore, down 25% yoy, mainly due to lower revenue partially offset by cost improvement.
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Commenting on the company’s performance, Arun Misra, CEO, said, “With our consistent focus on operational excellence, Hindustan Zinc has delivered record nine-month mined metals and silver production to take advantage of elevated silver prices. The Company’s sustainable operational progress is reflected in its industry leading compound annual production growth rate complemented by safe practices.”
“On the sustainability front, moving towards our decarbonisation mission, Hindustan Zinc has initiated the deployment of electric and LNG vehicles in its operations for inter-unit movements and finished goods, thereby reducing Scope 3 emissions. I am also happy to report that Hindustan. Zinc has been most high in the S&P Global Corporate Sustainability Assessment (CSA) 2023 among 238 companies with a score of 85 out of 100 under the metals and mining sector, underscoring our dedication to sustainable and responsible mining practices,” he added.
Meanwhile, the company said that they have appointed Harsha Kedia as Company Secretary and Compliance Officer, and Key Management Personnel (KMP) of the Company with effect from January 19, 2024, in place of Rajendra Pandwal.
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Published: 19 Jan 2024, 14:48 IST