 "Silver lining for Hindustan Zinc")
India's biggest zinc miner Hindustan Zinc Ltd posted a 42 percent jump in fourth-quarter net profit on Thursday, topping street estimates, helped by higher income from zinc production and an increase in metal prices.
Net profit rose to Rs 3,057 crore ($473.2 million) for the January-March quarter from Rs 2,147 crore a year earlier. The profit growth is the biggest in at least nine quarters.
Analysts on average had expected a net profit of Rs 2,852 crore, according to Thomson Reuters data.
Total income rose 72.4 percent to Rs 7,237 crore.
The LME zinc prices have risen about 53 percent from March-end 2016 to March-end 2017.
Income from zinc operations rose over two fold to Rs 5160 crore, said the company, which is a subsidiary of billionaire Anil Agarwal's Vedanta Ltd. The Indian government has a 29.5 percent stake in Hindustan Zinc.
Hindustan Zinc shares rose as much as 5.5 percent after the results.
