Hindustan Zinc reports decent production in Q1

The miner said its mined metal production rose 14% to 252,000 tonnes in Q1 FY23 as against 221,000 tonnes in Q1 FY22.

The miner reported highest ever mined metal production in Q1 FY23 on account of higher ore production largely at Sindesar Khurd, Rampura Agucha & Kayad mines supported by better mill recovery. Sequentially, it was lower by 15%, mainly due to lower ore production at mines & overall metal grades.

The company reported best ever refined metal production in first quarter at 260,000 tonnes, up 10% as compared to Q1 FY22 in line with availability of mined metal & better plant availability and flat sequentially.

Integrated zinc production was 206,000 tonnes, up 10% as compared to Q1 FY22 and down 2% compared to Q4 FY 22. Refined lead production was 54,000 tonnes for Q1 FY23, up 11% as compared to Q1 FY22 and up 9% sequentially on account of better plant availability and Pyro plant operation on Lead-mode for part of the quarter. Saleable silver production was 5.7 million ounces (moz), up 10% as compared to Q1 FY22 and up 9% sequentially in line with lead metal production.

Wind power generation for Q1 FY23 was 150 million units, up by 12% as compared to Q1 FY22 and jumped 127% as compared to Q4 FY22. It is mainly dependent on wind velocity & seasonality.

Hindustan Zinc is an integrated producer of zinc, lead and silver. It reported 18% rise in net profit to Rs 2,928 crore on 28.1% increase in revenue from operations to Rs 8,613 crore in Q4 FY22 over Q4 FY21.

Shares of Hindustan Zinc fell 0.78% at Rs 247.45 on Friday.

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