Hind Zinc loses sheen

Hindustan Zinc declared a set of dull numbers for Q2FY19. Its net profit for the quarter was down 29.5% (YoY) at Rs.1815 crore. In previous Q2 of FY18, the net profit had got a boost of Ts.291 crore through exceptional gain.

The company’s revenue was down 10% at Rs.4777 crore and EBITDA fell 23% at Rs.2334 crore.

The silver lining here – it declared a higher than expected interim dividend of Rs.20/share.

The market has given the results a thumbs down – stock price today fell over 3.5% to Rs.272.45. Its 52-week low is at Rs.261.15.