Chennai
Vedanta Group’s Hindustan Zinc Ltd reported a reduced net profit of Rs 2,028 crore for the third quarter of FY24. As per a regulatory filing, the company concluded the quarter ending December 31, 2023, with an operating revenue of Rs 7,067 crore, compared to Rs 7,628 crore in Q3FY23. The net profit for the quarter stood at Rs 2,028 crore, down from Rs 2,156 crore in the same period. During the review period, the company experienced an increase in finance costs, rising to Rs 243 crore from Rs 62 crore in the corresponding period of the previous year. In Q3 FY24, Hindustan Zinc observed a rise in employee benefit expenses and depreciation costs, while power and fuel costs and mining royalty outgo decreased. Hindustan Zinc shares were traded at around Rs 318, reaching a high of Rs 323 on Friday, after closing at Rs 311.80 on Thursday. The financial report indicates the company’s financial performance in the third quarter, reflecting changes in key financial metrics.
