Vedanta Resources’ company, Hindustan Zinc Limited (HZL), declared their financial results on Thursday, October 18, 2012. In the Board of Directors’ of HZL, in their meeting, discussed the financials as on September 30, 2012 and recommended an interim dividend of 80%, i.e. Rs. 1.60 per share on equity share of Rs 2.00 each, as compared to an interim dividend of Rs 1.50 per share last year.
On the occasion, Agnivesh Agarwal, Chairman of Hindustan Zinc, said, “Our results show our ability to deliver consistent performance from our best-in-class assets. We will continue our growth story in future and maintain our cost leadership to deliver industry leading performance”.
Mined metal production was 190kt in Q2 and 377kt in H1, as compared with 210kt and 398kt in the corresponding prior periods. In line with the mined metal production, integrated production of refined zinc was 153kt in Q2 and 310kt in H1. Integrated production of refined lead was 24kt in Q2 and 53kt in H1. Integrated refined Silver production was 80 tons in Q2 and 160 tons in H1, up 60% and 86% respectively, driven by the ramp-up of SK mine and Dariba Lead smelter.
Net profit of the company is up by 15% in Q2 at Rs. 1,540 crore and up by 10% in H1 at Rs. 3,121 crore. While, revenues were Rs. 2,822 crore in Q2 and Rs. 5,535 crore in H1, up by 9% and 2% respectively. As at 30 September 2012, the Company had cash and cash equivalents of Rs. 19,136 crore.
The record date for the payment of interim dividend to the shareholders of the company is 26th October 2012.