Q3 Results: Vedanta subsidiary explodes just before market close, profit jumps 47%

News Topical, Digital Desk : Vedanta's subsidiary released its October-December quarter results just before the stock market closed. This is the same company whose stock has surged 49 percent in the past six months. Now, in the third quarter, the company's net profit has increased 47 percent year-on-year. Shares reached a record high on January 19th after the results were announced.

Hindustan Zinc Quarterly Results
Hindustan Zinc Limited's net profit increased to ₹3,879 crore in the third quarter, October-December, from ₹2,647 crore in the same quarter last year. The increase in profit was driven by a 33% increase in other income.
 

EBITDA margin increased to 55%. The company's EBITDA for the quarter was ₹6,005 crore, exceeding CNBC-TV18's estimate of ₹5,614 crore. EBITDA increased by 34.7% year-on-year. EBITDA margin also increased to 55%, compared to 52% in the same quarter last year. This figure was in line with CNBC-TV18's estimate of 54.9%.

Hindustan Zinc Share Price:
Following the results, Hindustan Zinc shares were trading at ₹661.1, up 3.7%. Hindustan Zinc share price has increased by 5.11% in the last 5 days, 12.60% in 1 month, 49.08% in 6 months, and 42.41% in 1 year. The company has a low free float as a majority of its stake is held by promoter Vedanta. The Government of India and mutual funds also hold stakes in the company.

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