The company said its net profit in the July-September period stood at Rs 935 crore, compared with Rs 960 crore last year. Sales in the same period grew 2.6% to Rs 1,790 crore.
“The positive impact of higher volume operational efficiencies, lower input cost and rupee depreciation on net profit was more than offset by a sharp decline in the by-product credit realisations,” said Hindustan Zinc in its statement.
Shares of HZL fell 1.6% to Rs 868, in line with the broader market index, which was down 1.2%.
During the second quarter, zinc and lead mined metal production totalled 192,517 tonne, in line with the rated capacity, said the HZL statement. During the same period, zinc and lead refined metal production was 152,226 tonne, an increase of 14%, compared with the previous year.
Sales during the quarter rose due to the sale of 22,359 dry tonne of surplus zinc and 21,000 dry tonne of surplus lead concentrate. Saleable silver production during the second quarter was 30,324 kilograms, an increase of 40% over last year.
On future plans, Hindustan Zinc said work at its 210,000 tonne zinc smelter and the 100,000-tonne lead smelter project site at Rajpura Dariba are “progressing well and are on schedule for completion by mid-2010”. Work at the mining projects at Rampura Agucha, Sindesar Khurd and Kayar are also on schedule for progressive commissioning from mid-2010 onwards, it added.
http://economictimes.indiatimes.com/news/news-by-company/earnings/Hindustan-Zinc-profit-dips-3-to-Rs-935-cr/articleshow/5150765.cms
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