Hindustan Zinc Sees Record Profit as Metal Prices Soar

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

The company's first-quarter profit more than doubled to 54.69 billion rupees ($566.7 million) due to strong base and precious metal prices. This marks a significant increase from the previous year's net profit of 22.34 billion rupees.

Hindustan Zinc reported a 77% rise in total revenue from operations to 137.47 billion rupees, with its mined metal production rising by 1% and refined metal production increasing by 4%. Spot zinc prices climbed 31%, while spot silver more than doubled due to increased demand caused by the ongoing war in Iran.