Hindustan Zinc Profit Rises to Most in Four Years on Price Gains
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Hindustan Zinc Ltd., India’s largest producer of the metal, said third-quarter profit rose a better-than-expected 12 percent to the most in four years as higher prices made up for rising costs.
Net income rose to 12.9 billion rupees ($284 million), or 30.52 rupees a share, in the three months ended Dec. 31 from 11.5 billion rupees, or 27.18 rupees a year earlier, the unit of the London-based Vedanta Resources Plc. said in a statement to the Bombay Stock Exchange today. The average of 19 analyst estimates compiled by Bloomberg was for a profit of 11.3 billion rupees. Sales jumped 17 percent to 26 billion rupees.