SMM10, March 30: Hindustan Zinc, a company owned by Vedanta, reported that Vedanta's net profit for the second quarter ended September 30, 2019 increased by 15% compared with the same period last year to 20.81 billion rupees. Due to low demand and low zinc prices, the company's profit before interest, tax, depreciation and amortization (EBITDA) fell 8% to 21.2 billion rupees this quarter.
Revenue for the quarter was Rs451.1m, down 6 per cent from a year earlier, mainly due to a 6 per cent fall in the price of the benchmark London Metal Exchange (LME) and lower sales of lead and silver. The rise in the amount of zinc and the price of silver has balanced this to some extent. Revenues then fell 10 per cent, mainly due to a 15 per cent drop in LME zinc prices and lower sales of lead and silver. However, rising prices of lead and silver on the London Metal Exchange and a weaker rupee made up for the decline in income. (LME) prices on the London Metal Exchange fell an average of 10 per cent, while half-year earnings fell 6 per cent, although higher sales were offset by higher silver prices and a weaker rupee.
A grand event for thousands of people in China's non-ferrous metal industry
Shanghai colored net (SMM) annual meeting is the annual event of the metal industry, with an annual participation scale of thousands of people, domestic and foreign metal industry people gathered together to review and summarize the experience and harvest of the year, and lay the groundwork for the production, operation and operation of the coming year.
This year's "2019 China Nonferrous Metals Industry Annual meeting and 2020 (SMM) Metal Price Forecast Conference" was jointly created by SMM and China Renewable Resources Industry Technology Innovation Strategic Alliance and Shanghai Nonferrous Metals Industry Association. At the same time, the first "China Renewable Metals Industry chain Development Summit Forum" was held, and SMM metal price forecasting conference and waste battery recycling exchange were set up for you to enjoy. From the development of non-ferrous metal market to the recycling of renewable resources, from the detailed explanation of policies and systems to the research and development of industrial chain technology.
This is not only a meeting, but also an industry exchange of information, collision thinking sparks of brainstorming!
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