Hindustan Zinc net up 12% to Rs1,289 crore

Vedanta Group firm Hindustan Zinc (HZL) today reported a 12.3 per cent rise in net profit to Rs1,289 crore for the quarter ended December 31, on the back of record production of zinc and lead.

The company had reported a Rs1,148.65 crore net profit in the October-December quarter of the last financial year, HZL said in a statement. "The increase in revenues and net profit was primarily on account of higher volumes, operational efficiencies and improved LME prices; partly offset by appreciation of Indian rupee against the US dollar and increase in the cost of production," it said.

HZL's net sales improved by 17.3 per cent to Rs2,601 crore in Q3 in the current year, as against Rs2,216.73 crore in the third quarter of the previous year.

During the quarter, HZL achieved its highest-ever zinc and lead mined metal production of 220,000 tonnes, up 11 per cent vis-a-vis the same period in the previous financial year. The company also recorded its highest-ever zinc refined metal production figure in Q3 of this year of around 170,000 tonnes, translating into a growth of around 20 per cent over output in the same quarter last year.