Hindustan Zinc stock surges following Q3FY24 Results; Reports 5.9% YoY Net Profit Decline

Hindustan Zinc shares edged up by 0.40 percent at the start of trading on January 20, a day after the Vedanta group company unveiled its Q3FY24 results. At 9:20 am, the stock was valued at Rs 316.30, showing a marginal increase of 0.62 percent from the previous day’s close at Rs 314.20, just after the earnings announcement.

For the quarter ending December 2023, Hindustan Zinc disclosed a 5.9 percent year-on-year decline in net profit, settling at Rs 2,028 crore compared to Rs 2,156 crore in the previous fiscal. Despite this, net profit exhibited a positive 17 percent quarter-on-quarter growth. Revenue from operations during the reporting period amounted to Rs 7,067 crore, reflecting an 8 percent increase from Rs 7,628 crore a year ago. The earnings before tax, depreciation, and amortization (EBITDA) for the quarter ended December 2023 stood at Rs 3,560 crore, down from Rs 3,717 crore in the same period last year.