Wednesday, October 27, 2021

HINDZINC Q2 PAT Zooms yoy | Stock Outlook

  


Hindustan Zinc Q2 PAT up 3.97% yoy at Rs2,017cr; stocks end higher

Zinc reported 18% growth in sales on yoy basis at Rs3,926cr while lead was up 3% at Rs885cr.


Hindustan Zinc Ltd reported 8.16% growth in total revenues for the Sep-21 quarter on a consolidated basis at Rs6,122cr. The revenues were lower by -6.26% on a sequential basis compared to Rs6,531cr revenues in the Jun-21 quarter.

The consolidated profit after tax (PAT) for the Sep-21 quarter was up 3.97% at Rs2,017cr. Profits were up 1.71% compared to the profits in the sequential quarter as profit margins came under pressure.

Zinc reported 18% growth in sales on yoy basis at Rs3,926cr while lead was up 3% at Rs885cr. The silver business was under pressure with top line revenues falling by -21% yoy at Rs983cr. The price of zinc and lead on the LME were up 25% to 28%, which ensured higher sales despite volumes pressure.


Stock Outlook

Stock after the recent correction is available near good support zone. Long position can be made for the level of 351 - 378 in short term . Long term is still intact in uptrend.




Disclaimer- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader, user and company that are mention on this website. We are not SEBI registered financial advisor or analyst.


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