19th Oct 2015 12:04
LONDON (Alliance News) - Vedanta Resources PLC on Monday said its Hindustan Zinc division has published its results for the second quarter, with mined metal production and zinc saleable production both sharply higher.
Hindustan Zinc's mined metal production in the quarter to the end of September rose 13% year-on-year to 240,000 tonnes, while its integrated saleable zinc production increased to 211,000 tonnes, up 22% year-on-year.
Its saleable lead and silver production also increased, up to 39,000 tonnes and 110 million tonnes in the quarter, or 53% and 64% respectively year-on-year.
It maintained its interim dividend of 1.90 rupees per share and said it would pay a special interim dividend of the same amount.
"Hindustan Zinc delivered another robust performance despite strong headwinds in the commodity markets. We achieved one of our best results by resiliently adhering to our strategy of volume growth, operational efficiency and cost discipline. Under the leadership of newly appointed CEO, we remain firmly committed to our strategic goals of sustainable and profitable growth enhanced by on-going expansion projects," said Chairman Agnivesh Agarwal.
Vedanta shares were down 4.3% to 552.00 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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