Comments
Vedanta Group firm Hindustan Zinc has paid Rs 400 crore as advance tax for the October-December quarter, an over 23 per cent rise on a year-on-year basis, the company said today.
“The higher advance tax payment is due to improved efficiency in business operations and expansion in business,” it said in a statement, adding that the company had paid Rs 325 crore for the same period last fiscal.
In the first three quarters of the current financial year, the Rajasthan-based zinc, lead and silver producer has cumulatively paid Rs 1,025 crore as advance tax, the statement added.
Hindustan Zinc, in which the government sold a majority stake to Vedanta Group in 2002, currently produces 10,64,000 tonnes of zinc and lead, while its silver production stood at about 180 tonnes in 2010-11.
Stating that the Vedanta Group firm has invested about Rs 12,000 crore on expansion since its disinvestment, the statement said the company recently commissioned a 1,00,000 tonnes per annum lead smelter at Dariba in Rajasthan and 350 tonnes per annum silver refinery at Pantnagar in Uttarakhand.
“These are only going to give a boost to the company’s revenue,” it added.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.