Hindustan Zinc earns Rs.8,178 Cr Net Profit in 2014-15

Vedanta Group-owned zinc, lead, silver and cadmium miner Hindustan Zinc Limited (HZL) on Monday said its net profit during April 2014-March 2015 period increased by 18.44 percent at Rs.8,178 crore against Rs.6,904.62 crore during the corresponding months of 2013-14.

In a regulatory filing with the National Stock Exchange, the world’s largest zinc miner said its net revenues from operations for the time period under review rose by 8.45 percent at Rs.14,788.39 crore against the net income of Rs.13,636.04 crore during April 2013-March 2014 period.

Recording its highest profit ever, the firm’s assets during the review period also surged by 17.55 percent valued at Rs.48,992 crore against the asset valuation of Rs.41,676.67 crore in 2013-14.

During 2014-15, the company’s mining operations yielded a total production output of 887 kilo tonnes.

“The year witnessed favourable zinc market dynamics with falling mine surplus coupled with strong demand that is likely to boost the price of zinc in the coming years too,” the company’s chairman Agnivesh Agarwal said.

“Another noteworthy event during the year was the enactment of the new MMDRA Act, 2015, that will bring greater transparency in granting of mineral concessions.”(IANS)