Hindustan Zinc Profit Beats Estimates on Higher Metal Output
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Hindustan Zinc Ltd., India’s largest zinc and silver producer, reported a better-than-expected 54 percent gain in fourth-quarter profit, aided by higher metal output.
Net income rose to 21.7 billion rupees ($401 million), or 5.13 rupees a share, in the three months ended March 31 from 14.1 billion rupees, or 3.34 rupees, a year earlier, the unit of London-based Vedanta Resources Plc said today in an exchange filing. The median of 27 analyst estimates compiled by Bloomberg was 18.2 billion rupees. Sales surged 25 percent to 38.5 billion rupees.