Hind Zinc net zooms 270%

Hindustan Zinc's net profit has zoomed 270 per cent at Rs 138.4 crore in the third quarter ended December 31, 2003, against a net profit of Rs 37.4 crore in the corresponding period of the previous year.

Turnover for the quarter rose 61.4 per cent at Rs 497.7 crore (Rs 308.3 crore).

Industry analysts said that the surge in the company's net profit is on the back of a steep rise in global zinc prices in the last few months. Depreciation costs have declined 8.5 per cent to Rs 17.7 crore (Rs 16.3 per cent).

For the nine months between April 2003 to December 2003, the company's net profit increased 235 per cent at Rs 318.7 crore, against a net profit of Rs 95 crore in the corresponding period of the previous year.