Hindustan Zinc Limited Results For The First Quarter Ended 30 June 2012
Hindustan Zinc Limited (“HZL” or the “Company”) today announced results for the first quarter (“Q1”) ended 30 June 2012.
Highlights for the quarter
- Net profit up 6% to Rs. 1,581 Crore or Rs. 3.74 per share
- Refined Lead and Silver production up 91% and 75% respectively
- Cash and cash equivalents of Rs. 19,404 Crore, as at 30 June 2012
“During the first quarter of FY 2013, we ramped up Sindesar Khurd mine (SKM) resulting in a strong 70%+ increase in integrated Lead and Silver production. Ore production at SKM has increased to more than 1.5 times from a year ago. SKM’s steady ramp-up and low cost of production reflect high mechanisation of our operations, which will be emulated at all our future underground mining projects”, said Mr. Agnivesh Agarwal, Chairman of Hindustan Zinc.
Unaudited Financial Summary
( in Rs. Crore, except as stated)
Quarter Ended30 June
|Net Sales/Income from operations|
|Cash Profit (Net Profit + Depreciation)||1,755||1,629||8%|
|Profit After Taxes||1,581||1,495||6%|
|Earnings Per Share (Rs.)||3.74||3.54||6%|
|Production - Mined Metal ('000 tonnes)|
|Zinc & Lead||187||188||-1%|
|Production - Refined Metal ('000 tonnes)|
|- Fully integrated Zinc||157||191||-18%|
|Total Lead (1)||31||16||91%|
|- Fully integrated Lead||29||16||79%|
|Total Silver (tonnes) (2)||82||47||75%|
|- Fully integrated Silver (tonnes)||79||47||70%|
|Metal Prices and Exchange Rate|
|Zinc LME (USD / MT)||1,928||2,250||-14%|
|Lead LME (USD / MT)||1,974||2,550||-23%|
|Silver LBMA (USD / Oz)||28.3||38||-26%|
|INR / USD||54.2||44.7||21%|
(1) Including captive consumption of 1,641 tonnes in Q1 FY2013 vs. 1,391 tonnes in Q1 FY2012
(2) Including captive consumption of 8,643 kg in Q1 FY2013 vs. 7,196 kg in Q1 FY2012
(3) Silver occurs in Lead & Zinc ore and is recovered in the smelting and silver-refining processes
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