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Covid-19 hits Hindustan Zinc’s Q1 earnings; firm silver prices to aid recovery

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weak performance for the June quarter reflecting the impact of the covid-19 lockdowns.Revenue dropped 20% from the year ago quarter.

The company lost 18 days of production equivalent in April. Mined metal and refined metal production dropped from the year ago quarter.

Combine this with 11-29% fall in lead and zinc prices, operating earnings declined 36% in the June quarter.The results are broadly in line with street expectation.

Further the management alluded to incremental improvement in the business environment which is helping the stock-gained 4% in Tuesday morning trade.The 10% rise in silver prices is a bright spot during the June quarter.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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Covid-19.rehab - the latest news concerning the spread of the SARS-CoV-2 coronavirus (formerly 2019-nCoV), as well as the infectious disease that it causes COVID-19, in separate countries and in the world as a whole. Current news on the topic of coronavirus SARS-CoV-2. Quarantine, pandemic 2020, epidemic: what is it, when will it come to end, precautions and how to protect yourself from this disease. The most honest news, no fakes! To keep up with the latest news, stay tuned for updates on the site! Every day we will collect news and statistics on coronavirus from around the world for you to be aware of this topic.

Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic

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