Hindustan Zinc's Profit Surges Amid Renewable Energy Investment Push

Hindustan Zinc Ltd reported a 34.5% increase in net profit for the quarter, driven by higher income. The company announced a Rs 327 crore investment in Serentica Renewable India to secure renewable energy. HZL is a major player in zinc and silver production.

Vedanta group firm Hindustan Zinc Ltd (HZL) has announced a notable 34.5 percent rise in its consolidated net profit, reaching Rs 2,327 crore for the quarter ending September 30, 2024. This surge is attributed to increased income compared to the previous year's Rs 1,729 crore profit.

HZL's income for the July-September quarter climbed to Rs 8,522 crore, up from Rs 7,014 crore in the same period last year. This growth was driven by revenue from zinc, lead, and silver segments, with zinc and lead contributing Rs 6,403 crore and silver Rs 1,550 crore respectively.

The board has approved a Rs 327 crore investment for acquiring at least a 26 percent stake in Serentica Renewable India Private Ltd. This move aligns with HZL's strategy for long-term renewable energy sourcing, indicating sustainable growth prospects for one of the world's top zinc and silver producers.

(With inputs from agencies.)