Small BusinessHind Zinc Q3 net soars threefold to Rs 1,149 cr
The Vedanta group firm Hindustan Zinc today posted a three-fold jump in its Q3 profit to Rs 1,148.65 crore as against Rs 369 crore in the corresponding period a year ago, driven by improved output, sales and prices realisation.
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"Operational excellence combined with higher LME (London Metal Exchange) prices and silver prices led to a strong net profit performance. With our expansion programme on track, we are on course to become the world"s largest integrated zinc and lead producer by mid-2010," Hindustan Zinc Chief Operating Officer Akhilesh Joshi told PTI today.
The NRI billionaire Anil Agarwal-led company is working on its Rs 3,600-crore expansion project, which will see it setting up a 2.1-lakh tonne zinc and a one-lakh tonne lead smelter plants at Rajpura Dariba in Rajasthan, where it has most of the mining projects.
"The Rampura Agucha Mine expansion is also progressing well and is on schedule for completion by mid-2010, as announced earlier," Joshi informed. The company plans to augment capacity at Rampura Agucha to 6 million tonnes per annum (mtpa) from the present 5 mtpa.
"Post-completion of these projects, HZL will be the world’s largest integrated zinc and lead producer with a total smelting capacity of 1.06 million tonnes," he said.