New Delhi : Hindustan Zinc Ltd (HZL) reported a 24 % decline in net profit at Rs 1,811 crore for the December quarter, hurt mainly by higher expenses and subdued prices.
Total income fell 11 % to Rs 3,431 crore while expenses rose 8 % to Rs 2,123.90 crore.
HZL Chairman Agnivesh Agarwal said: “We are happy to report a strong refined metal production, with silver touching new highs. However, the current low zinc metal prices are contrary to the market fundamentals.” He added that the firm is carrying out a review of its high-cost operations to ensure they are sustainable in the present weak zinc market. On outlook, the company said: “While the fourth quarter is expected to be weak as per mine plan, full-year guidance of marginal growth in mined metal production is maintained; production of refined metals will also be ahead of the previous year, with silver being significantly higher.”
