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Our Bureau

Mumbai , July 18

Hindustan Zinc Ltd has reported a net profit of Rs 874 crore for the first quarter ended June 30, 2006, as compared to Rs 148 crore in the year-ago period.

Strong zinc prices contributed to the profits. Metal volumes as well as a reduction in unit operating costs, mainly due to operating efficiencies achieved at the new captive power plant, also contributed to profits.

Mined metal production was 131,374 tonnes for the quarter, an increase of 15 per cent over output in the corresponding quarter last year, primarily due to the increased output from Rampura Agucha mines.

Refined zinc production was 82,240 tonnes during the quarter (57,631 tonnes), mainly due to production from the new hydro smelter.

Sales during the quarter were augmented by the sale of 56,000 dry metric tonnes of surplus zinc concentrate.

Total income increased to Rs 1,657 crore from Rs 544 crore during the same period.

Shares of Hindustan Zinc fell by Rs 12.35 to Rs 574.10 in Tuesday's trade on the Bombay Stock Exchange.

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