Hindustan Zinc’s Refined Zinc Production Rises 10 Percent

Hindustan Zinc Ltd. (BSE:500188) released the results for its first quarter, which ended on June 30, 2013. As a result of a higher smelter utilization rate, the company’s integrated production of refined zinc rose 10 percent from the previous year, to 173,000 metric tons.

As quoted in the press release:

Revenues were up 8% to Rs. 2,939 Crore, compared with the corresponding prior quarter. The increase was driven by higher sales volume and rupee depreciation, partially offset by lower metal prices. EBITDA for the quarter was Rs 1,506 Crore, up 6% on higher sales, partially offset by higher operating costs. Net profit for the quarter was up by 5% to Rs. 1,660 Crore.

The zinc metal cost of production before royalty during the quarter was Rs. 46,800 per MT ($836), 2% higher in Rupee and 1% lower in USD terms from a year ago. The increase was primarily due to lower sulphuric acid credits and higher excavation costs, partially offset by lower coal price, lower specific coal consumption and benefits of higher volume.

Click here to read the full Hindustan Zinc Ltd. (BSE:500188) press release.