05:37 PM EDT, 05/23/2024 (MT Newswires) -- Silvercorp Metals ( SVM ) edged up in after-hours New York trading after the company on Thursday said its fiscal fourth-quarter adjusted profit fell 23% despite higher revenue.

The company said its adjusted profit, excluding most one-time items, fell to US$3.82 million, or US$0.02 per share, in the quarter ended March 31, down from US$4.97 million, or US$0.03, in the year-prior quarter. The result lagged the average analyst estimate for the measure of US$0.03 per share, according to Capital IQ.

Revenue rose 25% to US$42.68 million from US$34.15 million.

The company sold 1,916 ounces of gold, 1.1 million ounces of silver, 11.9 million pounds of lead, and 4.4 million pounds of zinc from its mines in China in the quarter.

Silvercorp said its "consolidated cash cost per ounce of silver, net of by-product credits, was $1.22 , compared to $0.92 in Q4 Fiscal 2023. The increase was mainly due to an increase of $4.8 million in expensed production cost arising from more concentrates produced and sold, offset by an increase of $4.4 million in by-product credits".

The company's shares were last seen up US$0.03 to US$3.85 after hours. They closed down C$0.02 to C$5.28 on the Toronto Stock Exchange.