Hindustan Zinc, a Vedanta Group firm, on Thursday reported a 42.96 per cent jump in its net profit at Rs 1,771.27 crore for the quarter ended March 31, 2011 on the back of highest ever production of sliver and zinc.

The company had posted a net profit of Rs 1,238.99 crore during the same period a year ago.

Net sales of the company rose by 27.95 per cent during the quarter at Rs 3,197.02 crore as compared to Rs 2,498.47 crore on year-on-year basis, the company said in a filing to the Bombay Stock Exchange.

During the quarter, the Vedanta Group firm’s refined zinc production was up 29 per cent at 1.94 lakh tonnes, while its silver production was 50,000 kg.

For the full year 2010—11, the net profit of the company rose by 21.25 per cent at Rs 4,900.49 crore vis-a-vis a net profit of Rs 4,041.41 crore in 2009-10.

The net sales of the company rose by 23.63 per cent during the FY’11 at Rs 9,912.14 crore as compared to Rs 8,016.97 crore.

“This year we have focused on enhancing the shareholder value by focusing on faster ramp ups, leading to improvement in growth and profitability. We continue to focus on enhancing value from silver and are committed to becoming a leading silver producer globally,” Hindustan Zinc Chairman, Mr Agnivesh Agarwal, said in a statement.

During the year, the refined zinc production was up by 23 per cent at 7.12 lakh tonnes, while silver production was higher at 1.79 lakh kilograms, the statement added.

The company is also planning to increase the lead and silver production in the next few months as a lead smelter at Dariba, having a capacity of 100 kilo tonnes per annum, is expected to be commissioned during the ongoing quarter.

Due to the good financial results, scrips of the company closed today at a new high on the Bombay Stock Exchange at Rs 151.95 apiece, up 3.12 per cent from the previous close.

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