Vedanta Group's Hindustan Zinc Sees Net Profit Surge Amid Zinc, Silver Price Hikes

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

According to the earnings report, Hindustan Zinc'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.

The company's net profit margin climbed to 40% from 29%, while spot zinc prices surged 31%. Spot silver prices more than doubled due to increased demand caused by the ongoing war in Iran, and zinc prices firmed amid supply concerns.