Hindustan Zinc Q1 net profit zooms 81% to ₹1,876 crore

Vedanta Group firm Hindustan Zinc Ltd (HZL) on Thursday posted 81 per cent jump in net profit to Rs 1,876 crore for quarter ended June 30, 2017 helped by better pricing and higher volume.

The company had posted a net profit of Rs 1,037 crore in the corresponding quarter of previous fiscal, HZL said in a filing to BSE. The total income during April-June quarter stood at Rs 5,543 crore, registering an increase of 61 per cent over the year-ago period. "Revenues during the quarter were Rs 4,961 crore, up 79 per cent Y-o-Y on account of strong zinc and lead prices and higher volume," Hindustan Zinc said. During the quarter, net profit increased by 81 per cent Y-o-Y to Rs 1,876 crore, it said, adding that the impact of higher EBITDA was partly offset by lower investment income on a smaller investment corpus post dividend pay-out and interest cost on temporary Commercial Paper.