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Hindustan Zinc Q4 results were announced today and the big revelation was that its operations revenue dropped 12.02 per cent YoY to ₹7,285 crore. Last year, same quarter, Hindustan Zinc logged ₹8,281 crore in revenue. The company is promoted by Anil Agarwal-led Vedanta. Hindustan Zinc revealed that there was a 21 per cent year-on-year (YoY) drop in consolidated net profit at ₹2,038 crore in Q4. It was ₹2,583 crore last year for the same quarter. Not just that, even other income dropped from ₹354 crore in Q4 last year to ₹273 crore.
Hindustan Zinc revealed that there was a 21 per cent year-on-year (YoY) drop in consolidated net profit at ₹2,038 crore in Q4. This is the sixth consecutive quarter of declining profit reported by Hindustan Zinc and is beng blamed mostly on zinc prices tmbling over inadequate demand especially from its biggest consumer - China.
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Hindustan Zinc share price dropped 2.7% even though it was marginally up before the announcement.
And even though Hindustan Zinc reported a 2% increase in zinc production in Q4, its sales fell 17%. and revenue from its bigegst segment, which is, the zinc mining, fell 16%, and led to a 12% drop in overall revenue.
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