India Markets closed

Hindustan Zinc reports 15 pc jump in Q2 profit Rs 2,081 crore

Gurugram (Haryana) [India], Oct 29 (ANI): Hindustan Zinc, India's largest and the world's second largest zinc-lead miner, said on Tuesday its profit moved up 14.7 per cent year-on-year at Rs 2,081 crore during July to September from Rs 1,815 crore in the same quarter of last year.

However, the revenue fell 5.2 per cent to Rs 4,461 crore compared with Rs 4,707 crore in the same quarter last year.

The company said its production in first half of current fiscal year was hit by geotechnical issues at S K mine. Mined coal and refined metal production in the second half is expected to be higher on account of the continued ramp-up of underground mines.

Hindustan Zinc is a subsidiary of Vedanta Ltd which owns 64.9 per cent stake while the government retains a 29.54 per cent stake. Its fully integrated zinc operations currently hold 78 per cent market share in the country's primary zinc industry.

The company is among top 10 silver producers globally with an annual capacity of 600 tonnes. (ANI)