India's Hindustan Zinc reported a sixth consecutive quarter of declining profit on Friday as zinc prices fell amid subdued demand, sending the miner's shares down by as much as 2.7%. Net profit fell 21% to 20.38 billion rupees ($244.1 million) in the January-March quarter, the country's top zinc producer said. Domestic zinc prices continued to be soft during the quarter as global metal prices were subdued on demand concerns from top consumer China.
MUMBAI, India, April 18, 2024--Vedanta’s Hindustan Zinc becomes the 3rd largest producer of Silver Globally.
Indian miner Hindustan Zinc reported its fifth consecutive decline in quarterly profit on Friday, dragged by lower zinc prices and sales. Still, the 6% profit drop is the smallest since it first reported a fall in profit in the third quarter of last year. Consolidated net profit fell to 20.28 billion rupees ($244 million) in the three months to Dec. 31 from 21.56 billion rupees a year ago.