Hindustan Zinc Q3 Net up 27% at Rs 1,612 cr
The Rajasthan-based company had reported a net profit of Rs 1,273.60 crore in the corresponding quarter of 2011-12. Meanwhile, the company, in a statement, said that its Board today approved next phase of growth plan to increase mined metal production capacity to 1.2 million tonnes per annum (MTPA), involving a capex of USD 1.5 billion in 6 years.
"The plan comprises of developing a 3.75 MTPA underground mine at Rampura Agucha and expanding Sindesar Khurd mine from 2 MTPA to 3.75 MTPA, Zawar mines from 1.2 MTPA to 5 MTPA... The growth plan will increase mined metal (MIC) production capacity to 1.2 MTPA," it said.
The company will invest USD 1.5 billion on developing these projects, it further said, adding that "annual capital expenditures for these projects will average USD 250 million a year over next six years".
In terms of performance, net sales of the company was up 14.33 per cent to Rs 3,140.43 crore during the third quarter vis-a-vis Rs 2,746.77 crore of the October-December quarter of the previous fiscal, it said in a BSE filing.
HZL's income from silver business rose by more than 2.5 times to Rs 644.43 crore during the quarter due to 103 per cent increase its production at 117 tonnes and higher prices at
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