Hindustan Zinc (NSE: HINDZINC), a subsidiary of Vedanta Limited, is one of the world’s largest integrated zinc-lead-silver producers. The company reported its earnings for the quarter ended December 31, 2023. The company reported a revenue of ₹7,866 Crore for the quarter, a decrease of 2% year on year. The decline in revenue was mainly due to low volumes of zinc and lead produced. Net profit for the quarter was ₹2,156 crore, a fall of 20% year on year.
The company’s production of zinc and lead for the quarter was down 2% and 1% year on year, respectively. Sales volume of zinc and lead also shrink by 1% and 2% respectively. The company’s silver production was slumped 7%, and sales volume fallen by -9% year on year. The company’s balance sheet remains strong with cash and cash equivalents of ₹16,482 crore as of December 31, 2023.