New Delhi
Hindustan Zinc Ltd (HZL), part of the Vedanta Group, has announced a robust 34.5% year-on-year increase in consolidated net profit for the quarter ended September 30, 2024, reaching ₹2,327 crore on Friday. This marks a notable rise from ₹1,729 crore in the same period last year. The company’s total income for the quarter surged to ₹8,522 crore, compared to ₹7,014 crore in Q2FY24.
The revenue breakdown indicates that HZL generated ₹6,403 crore from its zinc, lead, and other segments, along with ₹1,550 crore from its silver operations. Overall, the total revenue from operations for the quarter was ₹8,252 crore, reflecting a 22% year-on-year growth, driven by improved metal and silver volumes and favorable zinc and silver prices, bolstered by a strong dollar.
Arun Misra, CEO of Hindustan Zinc, highlighted the company’s historic highs in both mined and refined metal production during Q2. The firm has focused on maximizing silver production, resulting in a 10% sequential increase in silver volumes.
To further its commitment to net-zero emissions, HZL’s board has approved a renewable energy delivery agreement with Serentica for 530 MW, contributing over 70% of the company’s total power requirements. Additionally, the board sanctioned an investment of ₹327 crore to acquire at least a 26% equity stake in Serentica Renewable India Private Ltd, aimed at ensuring long-term renewable power supply.
HZL achieved its highest-ever second-quarter mined metal production at 256,000 tonnes, marking a 2% year-on-year increase, with refined zinc production reaching 198,000 tonnes, up 7% year-on-year. The company remains a major player in the global market, being the second-largest integrated zinc producer and the third-largest silver producer worldwide.
