Hindustan Zinc up 5% on good Q4 show

DALAL STREET SPIKES

Hindustan Zinc rose 5.41 per cent to Rs 977.8 on strong fourth quarter and full year results. As many as 18.82 lakh shares were traded on the BSE.

The company's net profit jumped 250 per cent to Rs 802 crore compared with Rs 229 crore in the year-ago period. Total income has increased to Rs 1,811 crore from Rs 761 crore.

The company's net profit for the year ended March 2006 jumped 122.69 per cent to Rs 1,472 crore compared with Rs 661 crore. Total income has increased to Rs 3,993 crore from Rs 2,337 crore.

The board had recommended a dividend of 25 per cent or Rs 2.50 per equity share of Rs 10 each. On April 26, Hindustan Zinc had hiked the prices of zinc by Rs 10,200 per tonne.

The company has been continuously hiking prices over the past few weeks on rising global zinc prices. It had commissioned 50,000 tonne per annum (tpa) lead expansion project at its facilities in Chanderiya in early February 2006. With this expansion, lead capacity has risen to 85,000 tpa from 35,000 tpa.