Hindustan Zinc Limited Results For The Second Quarter And Half Year Ended 30 September 2012
Mined metal production was 190kt in Q2 and 377kt in H1, as compared with 210kt and 398kt in the corresponding prior periods. In line with the mined metal production, integrated production of refined zinc was 153kt in Q2 and 310kt in H1. Integrated production of refined lead was 24kt in Q2 and 53kt in H1.
Integrated refined Silver production was 80 tonnes in Q2 and 160 tonnes in H1, up 63% and 66% respectively, driven by the ramp-up of SK mine and Dariba lead smelter.
Revenues were Rs. 2,822 Crore in Q2 and Rs. 5,535 Crore in H1, up 9% and 2% respectively compared to the corresponding prior periods. Net profit was up 15% in Q2 at Rs. 1,540 Crore and up 10% in H1 at Rs. 3,121 Crore, compared to the corresponding prior period. During Q2 and H1 of FY2013, the positive impact of higher Lead-Silver volumes and Rupee depreciation was offset by lower zinc volumes, lower prices of Zinc, Lead and Silver.The Zinc COP, excluding royalty, during the quarter was Rs. 46,750 per MT ($844), compared to Rs 38,800 ($847) in the corresponding prior quarter. The increase was primarily on account of higher excavation cost and Rupee depreciation. Interim Dividend HZL’s Board of Directors has recommended an interim dividend of 80% i.e. Rs. 1.60 per share on equity share of Rs 2.00 each, as compared to an interim dividend of Rs 1.50 per share last year. The record date for the payment of interim dividend is 26th October 2012. Expansion Projects At the greenfield Kayar mine, a milestone of development ore production was achieved towards the end of the quarter. Both Rampura Agucha and Kayar underground mines are progressing well and will start commercial production in FY2014.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV