“RobustQ4production despite Covid-19; All key projects for 1.2 mtpa capacity complete”
Highlightsfor the quarter•Mined metal production of 249kt, up 6% q-o-q•Refined metal production of 221kt, up 1% q-o-q •Silver production of 168 MT, up 12% q-o-q
Highlightsfor the year•Mined metal production of 917kt, down 2%•Refined metal production of 870kt, down 3%
Udaipur, May 21, 2020: Hindustan Zinc Limited, the leading global integrated producer of zinc, lead and silver, reportedits results for the fourthquarter and full yearended March31, 2020
Commenting on the Q4 and FY performance, Mr Sunil Duggal, CEO, said: “Industrial activity across the globe is undergoing a level of disruption unforeseen since the second world-war. In these challenging times, our focus is business continuityand safety of our people & operations and supporting our communities affected by the pandemic. We have ramped up our operations back to normal levels and are confident of delivering good performance in FY2021.”
Mr Swayam Saurabh, CFO,said: “We are accelerating our sustainable cost reduction programs and finding new opportunitiesto control costs & conserve capital in rapidly evolving ecosystems. We are confident toemerge stronger from thecurrent economic crisis and generate superior returns forour shareholders.
Net profit for the quarter was Rs.1,339Crore, a decline of 17% sequentiallyand 33% y-o-y. The sequential decline in EBTIDA was accentuated by a higher tax rate, partly offset by higher investment income. From a year ago, Net profit in Q4was impacted by higher tax rate and lower investment income.
Dividend On May 12, 2020, theBoard of Directorsdeclared an interim dividend ofRs 16.50 per equity share with face value of Rs 2 each, amounting to Rs 6972 Crore.
