Hindustan Zinc reports 53.29% rise in quarterly net profit

Hindustan Zinc reports 53.29% rise in quarterly net profitHindustan Zinc Ltd enjoyed an impressive 53.29 per cent year-on-year rise in net profit in quarter ended March 2013, thanks to a mix of higher prices of zinc and lead, higher production and lower costs.

The country's sole integrated zinc producer said its net profit jumped to Rs 2165.81 crore in the January-March quarter, as against Rs 1412.84 crore in the corresponding quarter of the previous financial year.

Sales jumped 24.46 per cent, from Rs 3093.53 crore to Rs 3850.29 crore, in the three-month period under review.

In the full financial-year, the company's net profit jumped 15 per cent to Rs 6,899 crore while revenues jumped 11 per cent to Rs 12,526 crore.

Commenting on the results, a metals sector analyst tracking Hindustan Zinc said, "Higher metal sales, lower power costs and the better realizations in rupee terms boosted the company's performance during the fourth quarter."

Production of metal climbed to 260 kilo tonnes in fourth quarter and 870 kilo tones in full financial year 2012-13, as against 223 kilo tones and 830 kilo tones in the year-ago corresponding periods.

In the after-hours trading on Thursday, Hindustan Zinc shares gained 4.2 per cent, easing losses that the company had been suffering in market valuation for the previous two-three months.