Hindustan Zinc Limited (HZL) has registered a 36.48 per cent year-on-year (YoY) dip in its net profits for the first quarter of the financial year 2023-24 (Q1FY24) compared to the Q1FY23. The revenue from operations for the company also registered a YoY decline of 23 per cent compared to the same period last year.
The company's business's operating margin also decreased from 48 per cent in Q1FY23 to 35 per cent in Q1FY24. The net profit margin for HZL also had a similar story, which went down from 33 per cent to 27 per cent YoY.
On July 08, 2023, the company's board of directors declared an interim dividend of Rs 7 per equity share, aggregating to about 2,958 Crore, with a record date of July 15, 2023, for FY24
Vedanta Group, led by its chairman Anil Agarwal, is under heavy debt as it plans to make investments of $1.7 billion (roughly Rs 14,000 crore) in the ongoing financial year. Last financial year, in FY23, the company had invested USD 1.2 billion in the form of growth capex to augment its assets and production, a PTI report said.