Hindustan Zinc web revenue rises 56 laptop in June quarter

Hindustan Zinc Ltd (HZL) on Thursday reported a 55.9 per cent rise in consolidated web revenue at Rs 3,092 within the June quarter, primarily on the again of upper steel costs.

The firm had posted consolidated web revenue of Rs 1,983 crore within the first quarter of the earlier fiscal, it mentioned in a submitting to BSE.

The consolidated income from operations within the April-June interval elevated by 44.8 per cent to Rs 9,236 crore, over Rs 6,378 crore within the year-ago interval, the submitting mentioned.

“Net profit for the quarter was at Rs 3,092 crore, up 55.9 per cent Y-o-Y and 5.6 per cent sequentially,” the corporate mentioned in a press release.

HZL’s board has given the approval for forming a wholly-owned arm to arrange a 5 lakh tonnes every year fertiliser plant.

“Hindustan Zinc delivered greatest first-quarter manufacturing for mined steel, refined steel and silver.

With the exit run-rate for each mined and refined steel crossing over a million tonnes, we’re absolutely geared to ship one other stellar efficiency this yr,” its CEO Arun Misra mentioned.

HZL’s Deputy and Interim CFO Sandeep Modi mentioned the corporate’s proactive method to money within the alternative from larger LME by strategic hedging helped it to guard general margin in an enter commodity inflationary surroundings.

As on June 30, the corporate’s gross investments and money and money equivalents stood at Rs 24,254 crore.

HZL, a Vedanta Group firm, is an built-in producer of zinc, lead and silver.