Hindustan Zinc beats estimates, Q1 net profit up 56% at Rs 3,092 crore

Beating street estimates, Hindustan Zinc, a subsidiary of Vedanta, reported a 56 per cent year-on-year increase in net profit for the quarter ended June 30, 2022 (Q1) at Rs 3,092 crore, on the back of higher realisation. In the year-ago period, net profit came in at Rs 1,983 crore.

Revenue from operations increased to Rs 9,236 crore in Q1 versus Rs 6,378 crore last year, led by higher zinc volumes and zinc LME prices as well as a favourable exchange rate while partly offset by lower silver prices, the company said.

Earnings before interest tax depreciation and amortisation (Ebitda) jumped