Vedanta Group Stock Declares 650% Dividend, Q3 Result, Trades New 52-Week High

Vedanta Group stock, Hindustan Zinc Ltd declared its Q3 results on Thursday and declared an interim dividend also. The large cap company announced net profit of Rs 2156 crore, down 20% YoY for the December 2022 quarter. It also announced an interim dividend of Rs 13 per share for the financial year 2022-23 amounting to Rs 5,493 crores. Check details below:

1. Hindustan Zinc Declares Interim Dividend

According to the BSE filing of Hindustan Zinc, "Board have approved third interim dividend of Rs. 13/- per equity share i.e. 650% on face value of Rs. 2/- per share for the Financial Year 2022-23 amounting to Rs. 5,493 Crores. The record date for the purpose of payment of third interim dividend, as already communicated is Monday, January 30, 2023. The Third interim dividend will be paid within stipulated timelines as prescribed under law."

2. Hindustan Zinc Stock Performance & Return

The stock hit its new 52-week high and it gained 4.57% intraday to end at Rs 377.55 apiece on BSE. The stock's 52-week high is Rs 383 apiece and 52-week low is Rs 242 apiece, respectively. It has a market capitalisation of Rs 1,59,526.92 crore.

The stock has given a return of 9% in last 1-week, 17% in last 1-month, 34% in just last 3-months, and 16% in last 1-year. In last 3-years, it has rallied 74%.

3. Hindustan Zinc Q3 Result

It is worth noting that Hindustan Zinc declared the revenue from operations at Rs 7866 crore, down 2% for the quarter ended December 31, 2022. The fall in revenues took place due to lower LME coinciding with lower refined metal and silver volumes.

Meanwhile, the EBITDA (earnings before interest, taxes, depreciation and amortisation) for the quarter under consideration reported at Rs 3,717 crore, down 15% year-on-year. Sequentially, Hindustan Zinc's profit was down 19.6% due to lower EBITDA.

According to Arun Misra, CEO, "Hindustan Zinc delivered best-ever 9 months refined metal on the back of the highest ever mined metal. In FY22, we reached the one million tonne mined metal landmark, and this year with the current run-rate, we are confident of achieving the one million tonne refined metal mark and are fully geared to deliver another stellar annual performance."

Sandeep Modi, Deputy & Interim CFO, said: "We delivered a strong operational & financial performance with yet another landmark of record 9 months Revenue, EBITDA and PAT, delivering a robust EBITDA margin of 52% despite heightened volatility in commodity prices on account of global macroeconomic environment."

4. About Hindustan Zinc

Hindustan Zinc Ltd is India's only and the world's largest integrated producer of Zinc-Lead. Hindustan Zinc is also one of the leading silver producers in the world. It is one of the lowest cost producers in the world and engaged in serving the rising demand of Asian countries.

Disclaimer

The stock gives details about interim dividend, record date, and Q3 result. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.