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As on 02-Jul-2022  15:03

Hindustan Zinc reports decent production in Q1
The miner reported highest ever mined metal production in Q1 FY23 on account of higher ore production largely at Sindesar Khurd, Rampura Agucha & Kayad mines supported by better mill recovery. Sequentially, it was lower by 15%, mainly due to lower ore production at mines & overall metal grades.

The company reported best ever refined metal production in first quarter at 260,000 tonnes, up 10% as compared to Q1 FY22 in line with availability of mined metal & better plant availability and flat sequentially.

Integrated zinc production was 206,000 tonnes, up 10% as compared to Q1 FY22 and down 2% compared to Q4 FY 22. Refined lead production was 54,000 tonnes for Q1 FY23, up 11% as compared to Q1 FY22 and up 9% sequentially on account of better plant availability and Pyro plant operation on Lead-mode for part of the quarter. Saleable silver production was 5.7 million ounces (moz), up 10% as compared to Q1 FY22 and up 9% sequentially in line with lead metal production.

Wind power generation for Q1 FY23 was 150 million units, up by 12% as compared to Q1 FY22 and jumped 127% as compared to Q4 FY22. It is mainly dependent on wind velocity & seasonality.

Hindustan Zinc is an integrated producer of zinc, lead and silver. It reported 18% rise in net profit to Rs 2,928 crore on 28.1% increase in revenue from operations to Rs 8,613 crore in Q4 FY22 over Q4 FY21.

Shares of Hindustan Zinc fell 0.78% at Rs 247.45 on Friday.

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