Hindustan Zinc's Third-Quarter Net Profit Fell 20% on Year

By Kosaku Narioka

Hindustan Zinc Ltd.'s third-quarter net profit dropped 20% compared with the same period a year earlier partly due to falling sales of zinc and silver.

Net profit for the quarter ended Dec. 31 fell to 21.56 billion Indian rupees ($265.4 million), the Indian mining company said late Thursday. That slightly exceeded the estimate of INR21.01 billion from a poll of analysts by FactSet.

Third-quarter revenue decreased 1.6% from a year earlier to INR78.66 billion. Sales of zinc declined 1% while sales of silver dropped 9%.

Write to Kosaku Narioka at [e-mail]

(END) Dow Jones Newswires

01-19-23 2141ET