Hindustan Zinc profit sinks 33 pc to Rs 1,339 crore in March quarter
May 21, 2020
Udaipur (Rajasthan) [India], May 21 : Integrated producer of zinc, lead and silver Hindustan Zinc on Thursday reported 33 per cent decline in net profit to Rs 1,339 crore for the quarter ended March 31 as compared to Rs 2,012 crore in Q4 FY19.
Total income fell to Rs 4,861 crore in Q4 FY20 as against Rs 6,030 crore in the year-ago period.
"Industrial activity across the globe is undergoing a level of disruption never seen since the Second World War," said Chief Executive Officer Sunil Duggal.
"In these challenging times, our focus is business continuity and safety of people and operations and supporting our communities affected by the pandemic," he said in a statement.
"We have ramped up our operations back to normal levels and are confident to emerge stronger from the current economic crisis and generate superior returns for our shareholders," said Duggal.
The company's mined metal production for Q4 totalled 249 kilotonnes (KT), up 6 per cent quarter-on-quarter, while refined metal production was 221 KT, up 1 per cent quarter-on-quarter.
Silver production was up 12 per cent quarter-on-quarter to 168 KT. This was despite operations shutdown from March 22 onwards due to the coronavirus-induced lockdown.
