SOURCE : CNBC TV 18 | PUBLISHED : 2 AUG 2024

Vedanta-owned Hindustan Zinc Ltd. reported June quarter results where its net profit went up by 19.4% from last year to ₹2,345 crore.

Revenue for the quarter increased by 11.6% from the same period last year to ₹8,130 crore.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) rose 18% to ₹3,946 crore from ₹3,347 crore last year.

EBITDA margins expanded by 250 basis points to 48.5% from 46% last year.

The company’s core Zinc, Led and other businesses saw 16.6% growth in its revenue to ₹6,421 crore, while silver metal revenue increased by 10% from last year to ₹1,427.

Vedanta owned a 64.92% stake in Hindustan Zinc at the end of the June quarter.

Hindustan Zinc shares recovered from the lows but are currently trading 0.4% lower at ₹645. The stock has doubled in value so far in 2024, gaining 102%.

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SOURCE : CNBC TV 18 | PUBLISHED : 2 AUG 2024