Hindustan Zinc Improves Zinc Production in First Three Months of 2013

MetalMiner reported that Hindustan Zinc Ltd.’s (BSE:500188) zinc and lead production for the year ended March 31, 2013 improved significantly compared to the previous year on the back of higher prices for the two metals as well as a drop in production costs.

As quoted in the market news:

HZL’s sales rose 22.5 percent to approximately US $725 million in the March quarter over the preceding one. Sales of lead and zinc were the main contributor to this performance with a 29.8 percent increase in revenue.

However, integrated production of refined zinc was down 4 percent in Q4 and 12 percent in FY 2012-13 from a year ago. The decline in zinc metal production was largely because of lower metal in concentrate (MIC) production in the first half compared to the second half. The company’s operating profit rose 41.6 percent, and operating margin advanced 7 percentage points, propelled by the zinc and lead segments profits, up by 50.3 percent.

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