Hindustan Zinc net profit falls 12% to Rs 2,583 cr in Q4

New Delhi: Hindustan Zinc Ltd (HZL) on Friday reported an 11.78 per cent fall in its consolidated net profit at Rs 2,583 crore for the fourth quarter of 2022-23 on account of higher expenses.

The company clocked Rs 2,928 crore net profit in the January-March period of the preceding 2021-22 fiscal, HZL said in a regulatory filing.

Its total income also declined to Rs 8,863 crore from Rs 9,074 crore in the year-ago period.

The company's expenses stood at Rs 5,358 crore, higher than Rs 4,717 crore a year ago.

"The Board on the recommendation of nomination and remuneration committee and audit & risk management Committee had approved the appointment of Sandeep Modi currently Interim CFO as Chief Financial Officer (KMP) of the Company w.e.f. April 21, 2023," the filing said.

Vedanta Group company Hindustan Zinc is the world's second-largest integrated zinc producer and fifth-largest silver producer.