Hindustan Zinc Q4 Net Drops 53.35% To Rs 551.47 Crore

Hindustan Zinc LimitedHindustan Zinc, a part of the dynamic Vedanta Resources group, has declared the results for the three-month period ended March 31, 2009.

For the period under review, India's leading zinc producer said that it has posted a decline of 53.35% in its net profit, which stood at Rs 551.47 crore as against Rs 1,182.20 crore during the corresponding period of the last year (March 2008).

The company’s total income during the fourth quarter witnessed a fall of 39.39% to Rs 1,483.15 crore from Rs 2,446.97 crore in the fourth quarter of FY 2008.

For FY 2009, the company’s board has declared a dividend of 40 per cent at the rate of Rs 4, on shares of face value of Rs 10.

Moreover, the company registered a fall of 38 per cent in its net profit for the year ended March 31, 2009.

The company yearly net profit stood at Rs 2,727.61 crore as compared to the Rs 4,396.09 crore in FY 2008.

The firm had a total income of Rs 6,611.50 crore in FY 2009, a dip of 24.26 per cent over the year-ago period.

Hindustan Zinc, on April 04, met the Rajasthan Government with an offer to establish a `Metal Park` for ancillary divisions, downstream metal product makers and silver jewellery industry.

Mr. Anil Agarwal, chairman, Vedanta group, stated that the company was making discussions with 3-4 states, but the Rajasthan administration was showing eager that would help most of the metal units were in the state.

Shares of the company, on Wednesday (April 22), closed at Rs 485.35 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 64.56 and 7.52 respectively. The share price has seen a 52-week high of Rs 743.05 and a low of Rs 215 on BSE.

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