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    500188   INE267A01025

HINDUSTAN ZINC LIMITED

(500188)
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Hindustan Zinc Second-Quarter Net Profit Fell on Tax Expenses

10/20/2020 | 07:14am EDT

By Kosaku Narioka

Hindustan Zinc Ltd. said its second-quarter net profit fell 6.8% from a year earlier due partly to higher tax expenses despite strong sales.

The Indian mining company said Tuesday that net profit for the quarter ended Sept. 30 fell to 19.40 billion Indian rupees ($264.4 million) from INR20.81 billion a year earlier. That missed the estimate of INR21.33 billion from a FactSet poll of analysts.

Second-quarter revenue increased 25% from a year earlier to INR56.60 billion, but net tax expenses rose to INR6.82 billion from INR60 million a year earlier.

Its zinc sales rose 9% in value from a year earlier and lead sales increased 28%, while silver sales more than doubled.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

(END) Dow Jones Newswires

10-20-20 0713ET

Stocks mentioned in the article
ChangeLast1st jan.
HINDUSTAN ZINC LIMITED 1.20% 324.45 End-of-day quote.35.81%
SILVER 0.32% 25.47 Delayed Quote.-3.17%
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Financials
Sales 2022 280 B 3 765 M 3 765 M
Net income 2022 105 B 1 410 M 1 410 M
Net cash 2022 162 B 2 186 M 2 186 M
P/E ratio 2022 13,0x
Yield 2022 5,99%
Capitalization 1 358 B 18 266 M 18 292 M
EV / Sales 2022 4,28x
EV / Sales 2023 4,00x
Nbr of Employees 3 719
Free-Float 5,65%
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Last Close Price 324,45 
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Managers and Directors
Arun Misra Chief Executive Officer & Executive Director
Vinaya Jain Senior Vice President & Head-Finance
Kiran Agarwal Chairman
Rajendra Pandwal Secretary & Compliance Officer
Anjani Kumar Agrawal Independent Non-Executive Director
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