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This is an archive article published on July 20, 2012

Hindustan Zinc Q1 net profit up 6 pct

Hindustan Zinc's net sales stood at Rs 2,713 crore during the quarter.

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Hindustan Zinc on Friday clocked 5.75 per cent rise in net profit at Rs 1,581 crore for the June quarter of the current fiscal though sales marginally dipped.

The company,in which billionaire NRI Anil Agarwal-led Vedanta Group has the majority stake,had clocked Rs 1,495 crore net profit during the April-June quarter of last fiscal,it said in a statement.

Hindustan Zinc’s net sales stood at Rs 2,713 crore during the reported quarter against Rs 2,821 crore in the year-ago period. Total expenses rose to Rs 1,493 crore in Q1 from Rs 1,393 crore during the same period last year.

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Vedanta group firm Sterlite Opportunities and Ventures (SOVL) has 64 per cent stake in HZL and the government of India holds 29.54 per cent stake in Hindustan Zinc.

Shares of the company today settled at Rs 119.80 apiece on the BSE,up 0.67 per cent over the previous closing.

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