Hindustan Zinc on Friday reported a consolidated net profit of Rs 2,327 crore in second quarter ended on September 30, 2024 (Q2 FY25), up 34.59 per cent from Rs 1,729 crore in the year-ago period. Revenue from operations of the company, which is majority owned by metals-to-oil conglomerate Vedanta Ltd, came at Rs 8,004 crore, a 20.93 per cent rise as compared to Rs 6,619 in the corresponding period last year.
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During the quarter under review, Hindustan Zinc‘s expenses moved 12.74 per cent higher, year-on-year (YoY), to Rs 5,309 crore.
Its second-biggest business segment, silver, clocked a 19.50 per cent YoY growth in revenue. Hindustan Zinc, which currently enjoys around 75 per cent share of the domestic market, is the world’s third-biggest producer of silver. Revenue from the zinc, lead and others segment grew by 21.75 per cent YoY.
Separately, Hindustan Zinc has approved Investment of minimum 26 per cent of equity in Serentica Renewable India PVT Ltd (SRIPL) or its affiliates. Parent Vedanta is scheduled to report its quarterly earnings later in the month.
Shares of Hindustan Zinc shed 0.09 per cent to settle at Rs 507.50. At this price, the stock has gained 59.39 per cent on a year-to-date (YTD) basis. It saw high trading volume on BSE as around 1.87 lakh shares changed hands today. The figure was higher than the two-week average volume of 94,000 shares.
Turnover on the counter came at Rs 9.49 crore, commanding a market capitalisation (m-cap) of Rs 2,11,434.96 crore.
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Technically, the counter traded lower than the 5-day, 10-, 20-, 50-, 100-day and 150-day simple moving averages (SMAs) but higher than the 30-day and 200-day SMAs. The scrip’s 14-day relative strength index (RSI) came at 47.49. A level below 30 is defined as oversold while a value above 70 is considered overbought.
As per BSE, the company’s stock has a price-to-equity (P/E) ratio of 26.25 against a price-to-book (P/B) value of 14.09. Earnings per share (EPS) stood at 19.35 with a return on equity (RoE) of 53.67. Promoters held a 63.42 per cent stake in Hindustan Zinc as of September 2024.
