Misra leverages on strong precious metal prices
Hindustan Zinc Limited (HZL) (NSE: HINDZINC) has continued to gather momentum from its previous quarter to record historic highs in its second quarter mined and refined metal production, said its chief executive officer Arun Misra.
“Leveraging strong precious metal prices, we have focused on maximizing our silver production, resulting in a 10% sequential increment in silver volumes,” he said in a release on 18 Oct 2024 bseindia .
The world’s second largest integrated zinc producer and third largest silver producer, reported its results for the second quarter and half year ended 30 Sept 2024 nseindia .
The company recorded the highest-ever second quarter refined metal production at 262 kt, up 8% y-o-y. It also clocked the lowest Q2 cost of production in the past 4 years at $1,071/MT sbi.com.in .
The company reported its highest ever EBITDA & profit (before exceptional items) in the last six quarters at US$497 million and US$ 285 million, up over 33% and 38% y-o-y respectively.
Hindustan Zinc’s precious metal segment, driven by silver, contributed over 40% in the overall profitability.
The company’s market share in India’s primary zinc market jumped from 71% to 78% y-o-y. To progress on the company’s net zero goals, Hindustan Zinc’s board approved the third power delivery agreement with Serentica Renewables, taking the renewable energy capacity to 530 MW, for increasing round-the-clock renewable power consumption from c.50% to c.70%. fiinews.com
