Hindustan Zinc Q3 net profit, revenue reach record high; stock gains 

Shares of Hindustan Zinc rose nearly 5% on Monday after the firm reported its Q3 earnings. Net profit of the subsidiary of Vedanta rose 46% year-on-year for the third quarter of the current fiscal. Hindustan Zinc's net profit rose to a record high of Rs 3916 crore in Q3 against Rs 2678 crore in the year ago period. The company's revenue climbed 27.80% to a record Rs 10,627 crore in Q3 against Rs 8315 crore on a year on year basis. Revenue rose 28% on a QoQ basis.

EBITDA rose 34.7% to Rs 6,055 crore in Q3 against Rs 4,458 crore on a year on year (YoY) basis.

The company said silver production of 158 MT, up 10% QoQ, contributing 44% to profits, uniquely positioned for riding the silver wave.

Hindustan Zinc shares climbed 4.7% to Rs 667.40 in the current session against the previous close of Rs 637.35 on BSE. Market cap of the firm rose to Rs 2.79 lakh crore. Later, the stock ended 3.74% higher at Rs 661.20.

Sandeep Modi, Chief Financial Officer of Hindustan Zinc said ,"Hindustan Zinc delivered a record financial performance for the quarter and nine months, with 3Q Profit after taxes surging 48% sequentially to an all-time high of Rs 3,916 crore, driven by highest-ever revenue and EBITDA. The contribution of our precious metal portfolio to profits rose to 44% during the quarter. With a strong balance sheet, cost leadership, disciplined execution, and industry-leading margins, we are well positioned to translate opportunity into sustained and superior shareholder returns."