Hindustan Zinc stock drops nearly 3 pc post Q1 earnings

Vedanta Group firm Hindustan Zinc Ltd on Tuesday reported a 23 per cent decline in its net profit at Rs 1,359 crore for the quarter ended on June 30. The company had posted a net profit of Rs 1,765 crore in April-June quarter of last fiscal, Hindustan Zinc said in a filing to the BSE.

Shares of Hindustan Zinc Ltd fell by nearly 3 per cent on Tuesday after the company reported a 23 per cent decline in its net profit for the quarter ended on June 30. The stock dipped 2.58 per cent to close at Rs 182.50 on the BSE. During the day, it dropped 2.90 per cent to Rs 182.50.

On the NSE, it declined 2.66 per cent to settle at Rs 182.80. Vedanta Group firm Hindustan Zinc Ltd on Tuesday reported a 23 per cent decline in its net profit at Rs 1,359 crore for the quarter ended on June 30.

The company had posted a net profit of Rs 1,765 crore in April-June quarter of last fiscal, Hindustan Zinc said in a filing to the BSE. Total income dropped to Rs 4,673 crore during the quarter as against Rs 5,416 crore in the year-ago period.

Hindustan Zinc Ltd Deputy CEO Arun Misra said the company successfully restarted its operations post lifting of COVID-19 lockdown in April, and ramped up operations across all mines and smelters to near normal levels. "In these uncertain times, our priority continues to be safety of our people and continuity of our operations in order to deliver robust growth in the quarters to come," he said.