Hindustan Zinc Names Amarendu Prakash as New CEO Amid Record Profit

Hindustan Zinc, a Vedanta Group company, has appointed Amarendu Prakash as its new CEO-designate. Prakash will take charge on August 1, replacing Arun Misra whose tenure ends on July 31.

The company's consolidated net profit rose to 54.69 billion rupees ($566.7 million) for the three months ended June 30, from 22.34 billion rupees a year ago. Net profit margin climbed to 40% from 29%.

Spot zinc prices climbed 31%, while spot silver more than doubled due to increased demand and supply concerns. Hindustan Zinc's mined metal production rose 1% on-year to 268 kilotons in the quarter, while refined metal production climbed 4% to 260 kilotons.