Hindustan Zinc Q4 profit rises by 42%
Vedanta Group firm Hindustan Zinc (HZL) today posted a 42.3 jump in net profit to Rs 3,056.96 crore for the quarter ended March 31, 2017, on the back of higher production and sale of mined metal. The company had posted a net profit of Rs 2,147.22 crore in the year-ago quarter.
Its total income during the quarter was Rs 7,237.28 crore, a rise of 72.4 per cent over the year-ago period. "Revenues during the quarter were Rs 6,699 crore, up 97 per cent Y-o-Y on account of strong zinc, lead and silver prices, higher production and sale of mined metal," the company said in a statement.
HZL Chairman Agnivesh Agarwal said the 2016-17 fiscal has been record breaking for Hindustan Zinc in many ways.
The record performance of the company, supported by strong zinc prices, helped HZL generate unparallelled value for its stakeholders during the year, he added. The company achieved highest-ever mined metal production during the quarter, up 13 per cent from previous quarter and 66 per cent Y-o-Y.