Hindustan Zinc Ltd. reported on Friday an 11.78% 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 a 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 the nomination and remuneration committee and audit and risk management committee, approved the appointment of Sandeep Modi, currently interim CFO, as Chief Financial Officer of the Company w.e.f. April 21, 2023," the filing said.
Vedanta Group's Hindustan Zinc is the world's second-largest integrated zinc producer and fifth-largest silver producer.
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