Millennium Post

Hindustan Zinc Q2 net up 33% to Rs 2,184 crore

Hindustan Zinc on Monday reported a 33 per cent rise in profit after tax (PAT) at Rs 2,184 crore on higher metal prices and sales.

The company, in which Vedanta Resources has the majority stake, had clocked Rs 1,640 crore PAT during July-September quarter of the last fiscal, it said in a statement. The government has 29.54 per cent stake in HZL which produces zinc, lead and silver.

'EBITDA was up by five per cent to Rs 2,000 crore in Q2 FY15 as compared to previous year, primarily due to higher LME prices despite lower volumes and the recent increase in royalty rates,' it

'The impact of EBITDA was further accentuated by strong treasury income during the period. In H1 FY15, net profit was up by 15 per cent to Rs 3,801 crore,' HZL said. Net sales of the company rose by six per cent during the second quarter of the current fiscal at Rs 3,749 crore from Rs 3,521 crore a year ago. Metal production during the quarter was, however, down by four per cent at 212,575 tonnes.
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