Hindustan Zinc Shares Slide Nearly 4 Per cent After Q4

Mumbai, Apr 22 (PTI) Shares of Hindustan Zinc (HZL) today fell by nearly 4 per cent after the company reported a 20 per cent decline in total income in the March quarter of the last fiscal.

The stock declined by 3.5 per cent to Rs 167.85 on BSE. On NSE, it went down by 3.61 per cent to Rs 167.85.

Hindustan Zinc Shares Slide Nearly 4 Per cent After Q4
Hindustan Zinc: Quotes, News
BSE 228.65BSE Quote1.95 (0.85%)
NSE 229.70NSE Quote2.25 (0.98%)

Hindustan Zinc yesterday reported an 8 per cent growth in its March quarter net profit to Rs 2,149 crore.

The firm, part of metals and mining conglomerate Vedanta Ltd, had clocked a net profit of Rs 1,997.44 crore in the year-ago quarter, it had said in a regulatory filing.

However, the firm led by billionaire Anil Agarwal posted a 20 per cent decline in total income at Rs 3,132.39 crore in January-March, from Rs 4,125.68 crore during the same period in 2014-15, due to lower zinc volume and depressed prices at the London Metal Exchange (LME).

On the decline in revenue, HZL said: "The decrease was on account of lower zinc volumes and LME, partly offset by higher volumes of lead and silver and rupee depreciation."

PTI

Read more about: hindustan zinc
Story first published: Friday, April 22, 2016, 11:15 [IST]
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