Hindustan Zinc’s lead and zinc production rose 13pc to 203,000mt in Q2 (July-September) FY2021. Production of zinc was reported at 180,000mt, up by 9pc from the prior year while lead production in the same quarter rose by 29pc to 57,000mt.
Total metal mined production is up 9pc to 238,000mt in Q2 from the year prior. The company posted a net profit of Rs19.4bn, up 43 pc from the prior quarter, but down 7pc from 2019.
For 2020, the company said mine metal and finished metal production will be at 925,000-950,000mt.
Total mined production rose on account of higher ore production due to effective mining and optimum use of technology. This was offset by decline in metal grades and lesser ore treatments, said Hindustan Zinc (HZL) in a regulatory filing.
Revenue in Q2 was reported at Rs56.6bn ($760mn), up by 25pc from a year ago. The increase is on the back of higher metal volumes. Zinc sales volumes rose 8pc and while lead sales rose 30pc from the preceding year.
Cost of production for zinc was down 12pc to $919/mt from the prior year due to decline in coal, met-coke and cement prices. Operating profit was reported at Rs29.52bn up 39pc from the prior-year as revenue jumped on lower operating costs.