Hindustan Zinc Q4 FY2024: Revenue up 3.27%, EBITDA up 2.19% QoQ, PAT stable at Rs. 2038

Tanushree Jaiswal Tanushree Jaiswal 22nd April 2024 - 12:35 pm
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Key Highlights

  • Hindustan Zinc reported a 3.27% growth in its revenue on a quarterly basis reaching 7,549 from 7,310.
  • EBITDA up by 2.19% on a quarterly basis but down by 13.57% on a YOY basis.
  • PAT was reported at 2038 in Q4 FY 2024 against 2028 in Q3 FY2024.

Business Highlights

  • Hindustan Zinc reported an EBITDA of 3,637 for the quarter ended March 2024 against 3,559 for the quarter ended December 2023, an increase of 2.19% on a quarterly basis. 
  • With a 5% YOY growth in annual silver production, Hindustan Zinc is now ranked third globally.
  • Additionally, it now ranks second globally for zinc reserves and resources.
  • The company reported US$ 1,117/MT as the lowest annual COP (last three years).
  • Hindustan Zinc is globally on top in the S&P Sustainability Assessment in terms of Metals and Mining sector.
  • The company’s mined metal production increased by 11% for Q4 FY 2024, reaching 299 kt.
  • As of the quarter ending March 2024, the company’s Reserves and Resources (R&R) were at 456.3 million tonnes.

 

Mr Arun Misra, CEO released a statement with the quarterly report stating, “FY 2023-24 has been a year of solid growth for HZL, with mined metal, refined metal, and silver recording its highest historic production levels, supported by a backdrop of fatality-free operations. As part of our strategy, it was driven by our increased focus on silver & metal production and cost optimisation. The company withstood the market headwinds during the year, ensuring preservation of margins and shareholder value. Fuelled by our robust silver maximisation strategy, I am thrilled to announce that HZL has now become the 3rd largest silver producer globally. Additionally, during the quarter, HZL also incorporated ‘Hindmetal Exploration Services Private Limited’, as a wholly owned subsidiary, with an objective to explore, discover, develop and tap mineral resources aligning with the national focus and vision.”

 

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