Vedanta’s Hindustan Zinc logs lower profit & revenue for Q3

Chennai, Jan 19 (IANS) Vedanta Group’s Hindustan Zinc Ltd closed the third quarter of FY24 with a lower net profit of Rs 2,028 crore.

In a regulatory filing, the company said it had closed the third quarter ended December 31, 2023 with an operating revenue of Rs 7,067 crore (Q3FY23 Rs 7,628 crore) and a net profit of Rs 2,028 crore (Rs 2,156 crore).

During the period under review, the company’s finance cost went up to Rs 243 crore from Rs 62 crore in the corresponding period the previous year.

The third quarter of FY24 saw the company’s employee benefit expenses, depreciation costs going while power and fuel, mining royalty outgo went down.

At the bourses, Hindustan Zinc shares changed hands for about Rs 318 on Friday after touching a high of Rs 323. The share closed at Rs 311.80 on Thursday.

–IANS

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