Hindustan Zinc Q3 net up 12% at Rs 1,289.6 cr | business | Hindustan Times
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Hindustan Zinc Q3 net up 12% at Rs 1,289.6 cr

Vedanta Group firm Hindustan Zinc Ltd (HZL) on Wednesday reported a 12.3% rise in its net profit at Rs 1,289.6 crore for the October-December period largely due to record production of zinc and lead, two of its primary metals.

business Updated: Jan 19, 2011 21:59 IST
HT Correspondent

Vedanta Group firm Hindustan Zinc Ltd (HZL) on Wednesday reported a 12.3% rise in its net profit at Rs 1,289.6 crore for the October-December period largely due to record production of zinc and lead, two of its primary metals.

Net sales of the firm improved 17.3% to Rs 2,601.5 crore during the quarter against Rs 2,216.7 crore in the same period of fiscal 2009-10. Zinc and lead metal production during the quarter grew by 11% to 2.2 lakh tonnes, while it produced 1.8 lakh tonnes of refined zinc, 20% more than the previous year.

“The increase was primarily on account of higher volumes, operational efficiencies and improved LME (London Metal Exchange) prices and partly offset by appreciation of

Indian rupee against the US dollar and increase in the cost of production,” the firm said in a statement.

The price of zinc and lead during the quarter was $2,315 per tonne and $2,390 a tonne, respectively, up 5% and 4%.