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Hindustan Zinc posts 19 percent decline in net profit in FY2018-19

PW Bureau

During the January-March period, Hindustan Zinc’s total income also went down to Rs 6,030 crore from Rs 6,725 crore in the year-ago period

New Delhi: Hindustan Zinc Limited (HZL), a subsidiary of Vedanta Group, registered a 19 percent decline in net profit in the fourth quarter of financial year 2018-19. The company’s net profit stood at Rs 2,012 crore for Q4 as opposed to Rs 2,505 crores in the corresponding period in the previous fiscal year. On the other hand, the overall net profit for the entire financial year 2018-19 stood at Rs 7,956 crores, down from Rs 9,276 crores posted in the last financial year.

Net income fell to Rs 6,030 crores

During the January-March period, Hindustan Zinc’s total income also went down to Rs 6,030 crore from Rs 6,725 crore in the year-ago period. The company’s expenses ballooned to Rs 12,444 crores in FY2018-19 as opposed to Rs 11,978 crores in the year-ago period. For Q4, expenses totalled to Rs 3,306 crore, higher from Rs 3,124 crore in the fourth quarter of 2017-18.

Revenue from operations

The report released by Hindustan Zinc also showed that its revenue from various segments like zinc, lead and silver and wind energy went down in the last financial year. Cumulatively, the revenue from operations for these segments stood at Rs 21,118 crores in the FY2018-19, as opposed to Rs 22,519 crores in FY2017-18.