Hindustan Zinc registers Rs 1,335 cr net profit in Q3

Kolkata, Jan 12: Hindustan Zinc Ltd has registered a net profit of Rs 1,335 crore in third quarter of the current fiscal, an increase of 306 per cent.

According to a company release here today, for the nine months period, revenues and net profit were Rs 6,531 crore and Rs 3,507 crore respectively, an increase of 211 per cent and 423 per cent on year-on-year basis.

''Revenues and net profit for third quarter were Rs 2,480 crore and Rs 1,335 crore respectively, an increase of 171 per cent and 306 per cent over the corresponding quarter in the previous year. The surge in net profits was on account of higher prices and metal volumes,'' it said.

''The 170,000 tonnes zinc expansion project at Chanderiya together with the corresponding expansion at Agucha mine is also progressing well and is on course for expected commissioning in early 2008,'' it said.

During the third quarter, the company announced a debottlenecking project at Chanderiya and Debari zinc smelters to increase its total zinc smelting production capacity by 88,000 tpa.

The company would construct a new 80 MW thermal coal-based captive power plant at Zawar, it said. The project was expected to be completed by early 2008.

During three quarters, the company also announced plans to establish two wind energy farms with a combined capacity of about 75 MW in a phased manner during the second half of fiscal 2007 and fiscal 2008. The estimated cost for this project is Rs 400 crore.

UNI