Hindustan Zinc Q4 profit up by 42.96%
Moneylife Digital Team 21 April 2011

During the year, refined zinc production was up by 23% at 7.12 lakh tonnes, while silver production was higher at 1.79 lakh kilogram

Hindustan Zinc, a Vedanta Group firm, has reported a 42.96% jump in its net profit at Rs1,771.27 crore for the quarter ended 31 March 2011 from Rs1,238.99 crore during the same period a year ago, on the back of highest ever production of sliver and zinc.

Net sales of the company rose by 27.95% during the quarter at Rs3,197.02 crore as compared to Rs2,498.47 crore on year-on-year basis.

During the quarter, the Vedanta Group firm's refined zinc production was up 29% at 1.94 lakh tonnes, while its silver production was 50,000 kg.

For the full year 2010-11, the net profit of the company rose by 21.25% at Rs4,900.49 crore vis-à-vis a net profit of Rs4,041.41 crore in 2009-10.

The net sales of the company rose by 23.63% during the FY10-11 at Rs9,912.14 crore compared to Rs8,016.97 crore.

"This year we have focused on enhancing the shareholder value by focusing on faster ramp ups, leading to improvement in growth and profitability. We continue to focus on enhancing value from silver and are committed to becoming a leading silver producer globally," Hindustan Zinc chairman Agnivesh Agarwal said in a statement.

During the year, refined zinc production was up by 23% at 7.12 lakh tonnes, while silver production was higher at 1.79 lakh kilogram.

The company is also planning to increase the lead and silver production in the next few months as a lead smelter at Dariba, having a capacity of 100 kilo tonnes per annum, is expected to be commissioned during the ongoing quarter.

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