New Delhi, Mining conglomerate <keyword id="19919724" type="General" weightage="20" keywordseo="vedanta-ltd" source="keywords">Vedanta Ltd</keyword> on Thursday reported an 18.3 per cent drop in consolidated net profit to Rs 2,013 crore in the third quarter ended December 2023 due to a spike in finance and raw materials cost amid muted sales. The company had posted a consolidated net profit of Rs 2,464 crore in the year-ago period, according to a regulatory filing. <keyword id="19919721" type="General" weightage="20" keywordseo="vedanta" source="keywords">Vedanta</keyword> Chief Financial Officer <keyword id="20335301" type="General" weightage="20" keywordseo="ajay-goel" source="keywords">Ajay Goel</keyword> told PTI that on a sequential basis, the December quarter was one of the best quarters for the company. "First and foremost, the EBITDA for the quarter is Rs 8,677 crore. It is 21 per higher over quarter on quarter," he explained. He further said that in the current quarter, the company's PAT before exceptional items is Rs 8,268 crore which is 112 per cent higher than in the previous quarter. The company's consolidated income in the third quarter of the current fiscal increased to Rs 36,320 crore from Rs 34,818 crore in the same period a year ago. During the October-December quarter of the current fiscal, Vedanta's finance cost was Rs 2,417 crore, which is 53.7 per cent higher than Rs 1,572 crore clocked in the year-ago period. The cost of material consumed in the third quarter increased to Rs 11,744 crore, over Rs 11,245 crore in the year-ago period. Vedanta Executive Director <keyword id="20256743" type="General" weightage="20" keywordseo="arun-misra" source="keywords">Arun Misra</keyword> said that the company's strategic focus on substantial cost compression, paralleled by an impressive production ramp-up across businesses has helped it to deliver remarkable performance. As of December 31, 2023, the company's gross debt stood at Rs 75,227 crore. Vedanta, a subsidiary of <keyword id="20169200" type="General" weightage="20" keywordseo="vedanta-resources-ltd" source="keywords">Vedanta Resources Ltd</keyword>, is a diversified global natural resources company.

Vedanta's Q3 profit drops 18% on higher finance, raw material cost

<ul><li>Opposing Anil Agarwal-promoted <keyword id="28423" type="General" weightage="100" keywordseo="vedanta" source="Orion">Vedanta</keyword>'s plan to sell its global zinc assets to <keyword id="115997" type="General" weightage="80" keywordseo="hindustan-zinc" source="Orion">Hindustan Zinc</keyword>, the government has said it will explore all legal options.</li><li>The government has also asked Vedanta arm Hindustan Zinc to explore other cashless methods of acquisition of these assets.</li><li>Hindustan Zinc's CEO <keyword id="1583550" type="General" weightage="50" keywordseo="arun-misra" source="Orion">Arun Misra</keyword> had said last week that the company is planning to get in touch with the mines ministry to resolve the differences.</li></ul>Opposing Anil Agarwal-promoted Vedanta's plan to sell its global zinc assets to Hindustan Zinc Ltd (<keyword id="171264" type="General" weightage="80" keywordseo="hzl" source="Orion">HZL</keyword>), the government has said it will explore all legal options in the matters related to the deal. The government has also asked Vedanta arm HZL to explore other cashless methods of acquisition of these assets. In a letter dated February 17 to HZL, Ministry of Mines said: "We have been informed by the directors nominated for appointment by Government of India that in the meeting of board of directors of the company held on January 19, 2023, resolutions were approved for the creation of a wholly-owned overseas subsidiary of the company, funding such subsidiary to the extent of USD 2,981 million and such subsidiary acquiring the shares of THL Zinc Ltd from THL Zinc Ventures Ltd (an entity of <keyword id="147780" type="General" weightage="50" keywordseo="vedanta-group" source="Orion">Vedanta Group</keyword>). "We would like to bring to your attention that Government of India will oppose any proposed resolutions in furtherance of such agenda matter and will explore all legal avenues available to Government of India in this regard." In the letter, the ministry urged the company to explore other cashless methods of acquisition of these assets. "In the context of the proposed resolutions which envisage the acquisition of THL Zinc (a Vedanta company) by HZL (also a Vedanta company) thus being a related party transaction, we, Government of India would like to reiterate our dissent on the matter and the resolutions forming part of the agenda matter," the letter said. The government holds a 29.54 stake in Hindustan Zinc. HZL acknowledged the receipt of the letter from the ministry and said in a filing to <keyword id="35140" type="General" weightage="50" keywordseo="bse" source="Orion">BSE</keyword> that the proposed transaction can only be done post approval of the shareholders in the general meeting. "Further the notice calling the shareholders meeting has not been issued so far. The above letter shall be placed before the board of directors in the ensuing board meeting for its consideration," HZL said. Hindustan Zinc's CEO Arun Misra had said last week that the company is planning to get in touch with the mines ministry to resolve the differences over the acquisition of overseas assets of holding company Vedanta Ltd. Valuation of the assets is among several concerns flagged by the government. Vedanta had last month said it will sell its global zinc assets to HZL for cash consideration of USD 2,981 million. Vedanta holds 64.92 per cent equity share of HZL. Hindustan Zinc is an integrated producer of zinc, lead and silver.

Will explore all legal options to oppose Vedanta-Hindustan Zinc deal says govt

The CEO of one of the largest zinc miners eyes a share of Bangladesh's economic boom

<ul><li>Bangladesh’s economy has lured many Indian companies like Adani, Hero and now, <keyword id="115997" type="CITY" weightage="20" keywordseo="Hindustan-Zinc">Hindustan Zinc</keyword> is ready to tap the growth in India’s neighbouring country.</li><li>Bangladesh’s per capita income surpassed India’s last year, and its GDP has been growing steadily.</li><li>Hindustan Zinc is looking to set up a processing unit in India to export products to the South Asian market.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>. </li></ul>India’s largest zinc miner Hindustan Zinc is looking to make a segway into Bangladesh, given the economic boom in the country, which shares nearly two third of its borders with India. In 2020, Bangladesh surpassed its larger neighbour India in <a href="https://www.newindianexpress.com/business/2021/may/20/bangladesh-beats-india-in-per-capita-income-2304942.html">per capita income (PCI)</a>. Hindustan Zinc is also working on setting up a maintenance and processing factory in Gujarat to supply Zinc to other South Asian countries. The Chief Executive Officer (CEO) of Hindustan Zinc, <keyword id="1583550" type="PERSON" weightage="20" keywordseo="Arun-Misra">Arun Misra</keyword>, told Business Insider that 70% of the Gujarat plant’s 0.3 million tonne capacity will go to Bangladesh and other Southeast Asian markets. Currently, miners in Africa, mostly Chinese, sell commodities to South Korea for processing Asian markets and conversion to zinc (by competitors), before hitting the South Asian markets. “We realised that we [Hindustan Zinc] could stop that traffic midway and do it in Gujarat and then convert to metal and then supply to Southeast Asia, which is going very fast and very stable economies as of now,” CEO Misra told Business Insider in an exclusive interview as he completed his first year in the corner office. The company currently has facilities located in five regions of Rajasthan and a zinc-lead processing and refining facilities as well as a silver refinery at Pantnagar in Uttarakhand. Misra also highlighted two points behind their latest interest in the Bangladesh market. First, the country’s economy has been doing well. Second, Bangladesh is a land of rivers, which leads to more corrosion of metal. “We'll have more zinc galvanisation in their country. So, nearby countries have a good future for zinc,” he added. Corrosion is a degradation of a material, especially metal, due to chemical reactions. Most metals are susceptible to corrosion and the most common form of corrosion is rusting. Water can make metal rust faster, which makes it almost a necessity to apply a protective zinc coating (galvanising) to steel or iron. More importantly, Bangladesh is witnessing an economic upswing ⁠— an average growth of<a href="https://data.worldbank.org/indicator/NY.GDP.PCAP.KD.ZG?locations=BD&amp;name_desc=false"> 5.4%</a> in gross domestic product (GDP) in last 5 years ⁠— leading to a massive investments in infrastructure. The government in Dhaka plans to increase its spending on infrastructure as well. According to Bangladesh’s Dhaka Chamber of Commerce and Industry, the country needs to invest approximately <a href="https://www.trade.gov/country-commercial-guides/bangladesh-infrastructure-development-and-engineering-services">$25 billion</a> annually till 2030 to meet its infrastructure needs. It will also help the country maintain as well as further<a href="https://www.adb.org/sites/default/files/project-documents/51311/51311-001-rrp-en.pdf"> accelerate </a>its GDP growth momentum. And, Misra sees opportunities unravelling there. “We have just entered Bangladesh. Looking at it, there's a possibility [of business growing], directly we are entering. So we are not yet a big mover inside Bangladesh, as of now. But we are still in Bangladesh and Southeast Asia, as a big base for growth, Misra told Business Insider. <div type="image" title="EXCLUSIVE: India&amp;#39;s largest zinc miner Hindustan is eyeing a share of the Bangladesh economic boom" msid="84963588" hostid="261"></div> The company is getting environment clearance procedures and other regulatory processes to make this project into a reality. Hindustan Zinc has seen a spectacular year as commodity prices including iron ore, copper and coal, around th e world have seen a spike in the last one year. Misra believes that this uptrend in commodity prices is likely to last for at least another two years. “Quote” However, global financial services firm Macquarie, in its June 2021 report, projected a cooling down in commodity prices particularly in steel, iron ore and zinc over the next 12 months, after a stellar rally that many have called the ‘supercycle’ in commodities. <div type="image" title="EXCLUSIVE: India&amp;#39;s largest zinc miner Hindustan is eyeing a share of the Bangladesh economic boom" msid="84963558" hostid="261"></div> Even other Indian companies have started to take notice of the Bangladesh market. Last year, Adani Group <a href="https://www.thedailystar.net/business/news/adani-group-registers-bangladesh-subsidiary-1873849">registered</a> a wholly owned subsidiary company named Adani Bangladesh Ports Private (ABPPL) in Bangladesh. It will also start a 1,000 acre India Special Economic Zone (ISEZ) to help Indian companies set up shop in the neighbouring country. Other Indian companies have also invested in Bangladesh too. This includes Ashok Leyland, the Hero Group, Emami, Dabur, Asian Paints, Pidilite, Godreh, Tata Motors, Sun Pharma and others. SEE ALSO <a href="https://www.businessinsider.in/india/news/these-seven-indian-states-face-the-highest-risk-of-a-spike-in-covid-19-infections-and-stricter-restrictions/articleshow/84962478.cms">These seven Indian states face the highest risk of a spike in COVID-19 infections and stricter restrictions</a> <a href="https://www.businessinsider.in/tech/news/jack-dorseys-square-agreed-to-buy-afterpay-which-has-a-buy-now-pay-later-service-for-29-billion-in-stock/articleshow/84962218.cms">Jack Dorsey's Square agreed to buy Afterpay, which has a 'buy now, pay later' service, for $29 billion in stock</a> <a href="https://www.businessinsider.in/tech/news/twitter-offers-up-to-3500-to-people-who-can-help-fix-apparent-racial-and-gender-bias-in-its-image-cropping-algorithm/articleshow/84946710.cms">Twitter offers $3,500 reward to people who can help fix apparent racial and gender bias in its image-cropping algorithm</a>

EXCLUSIVE: India's largest zinc miner is eyeing a share of the Bangladesh economic boom

<ul><li><keyword id="169284" type="ORGANIZATION" weightage="20" keywordseo="ASCI">ASCI</keyword> has partnered with <keyword id="154680" type="ORGANIZATION" weightage="20" keywordseo="FSSAI">FSSAI</keyword>. </li><li>With this partnership, the industry bodies aim to safeguard consumers against misleading claims in food and beverage (F&amp;B) advertisements. </li></ul>The <keyword id="120108" type="ORGANIZATION" weightage="20" keywordseo="Advertising-Standards-Council-of-India">Advertising Standards Council of India</keyword> (ASCI) has signed an agreement with the <keyword id="564221" type="ORGANIZATION" weightage="20" keywordseo="Food-Safety-and-Standards-Authority">Food Safety and Standards Authority</keyword> of India (FSSAI) to safeguard consumers against misleading claims in food and beverage (F&amp;B) advertisements. The agreement was signed in the presence of <keyword id="11579676" type="UNKNOWN" weightage="20" keywordseo="shri-arun-singhal">Shri Arun Singhal</keyword>, CEO, FSSAI, and Professor Bejon Misra, Adviser, Public Affairs, ASCI, on July 1st. As per the agreement, ASCI will identify advertisements which prima facie violate provisions of Food Safety And Standards (Advertising And Claims) Regulations, 2018, and FSSAI would further investigate these. Under the agreement, ASCI will set up a three-member expert panel to evaluate F&amp;B advertising identified by the ASCI monitoring team. There has been a marked increase in the number of complaints against F&amp;B ads during the COVID-19 pandemic. In the last financial year (FY) ASCI has processed a total number of 285 complaints compared to 175 in FY 2019-20. So, claims by F&amp;B brands, particularly those related to health and nutrition, are under greater scrutiny. Food and health continue to be important focus areas for ASCI. With this association, ASCI further strengthens its 360-degree approach of protecting consumers as well as guiding brands, agencies, and influencers towards greater responsibility. Manisha Kapoor, Secretary-General, ASCI, said: “With this agreement, ASCI will intensify its scrutiny of the F&amp;B sector. We will tap our National Advertising Monitoring Service, which monitors over 900 TV channels and publications, and over 3,000 websites. Besides national brands, we will examine regional and local ones. Our experts, with decades of experience in the F&amp;B sector, will shortlist those advertisements that require further scrutiny by FSSAI.” Subhash Kamath, Chairman, ASCI, added: “This is a significant collaboration. The common goal of consumer protection drives us all to share skills, expertise and resources in the most effective way to curb the menace of misleading advertising.”

ASCI and FSSAI join hands to curb misleading claims in food and beverage advertisements

<ul><li>A former court staff has accused <keyword id="45053" type="POSITION" weightage="20" keywordseo="Chief-Justice-of-India">Chief Justice of India</keyword> <keyword id="245445" type="PERSON" weightage="40" keywordseo="Ranjan-Gogoi">Ranjan Gogoi</keyword> of making sexual advances at her in his home office, according to a report. </li><li>The appellant has also alleged that she was dismissed when she resisted and that her family members were targeted thereafter. </li><li>Supreme Court of India assembled a special bench, including CJI Gogoi, to hear the case on Saturday.</li></ul>The Chief Justice of India (CJI), Ranjan Gogoi, has been accused of sexual harassment by a former staff, <a href="https://scroll.in/article/920678/chief-justice-of-india-sexually-harassed-me-says-former-sc-staffer-in-affidavit-to-22-judges">according to a report by Scroll</a>. In the wake of this shocking allegation, the Supreme Court of India assembled a special judges’ bench on Saturday (April 20), which CJI Gogoi was also a part of. A former court officer who worked from Gogoi’s home office between August and December 2018 has accused the CJI of making sexual advances adding that when she resisted, she was unceremoniously terminated. In an affidavit, the 35-year old woman has also alleged that even her family members were targeted and harassed after her dismissal. The registrar’s note said that the special hearing was scheduled on a “matter of great public importance touching up on the independence of the judiciary.” Solicitor General Tushar Mehta prodded the Bench to register a complaint in his name but the court refrained for the time being and asked to media to show restraint, responsibility and wisdom so that the independence of the judiciary is not affected by baseless allegations. 
 
 <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[
<blockquote class="twitter-tweet" data-lang="en"><a href="https://twitter.com/hashtag/Breaking?src=hash&amp;ref_src=twsrc%5Etfw">#Breaking</a>: Special sitting of Supreme Court today at 10.30 am to deal with a matter of grave public importance. The Bench will comprise CJI Ranjan Gogoi and Justices Arun Mishra and Sanjiv Khanna. Mention was made by Solicitor General Tushar Mehta. <a href="https://t.co/GiI1HENb2S">pic.twitter.com/GiI1HENb2S</a>&mdash; Bar &amp; Bench (@barandbench) <a href="https://twitter.com/barandbench/status/1119466298772086786?ref_src=twsrc%5Etfw">April 20, 2019</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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 “They cannot catch me on money, so they have brought up this. This is the reward a CJI gets after 20 years and a bank balance of 680,000. Independence of judiciary is under very serious threat. I had to tell this from the judicial seat", <a href="https://barandbench.com/live-updates-from-sc-sexual-harassment-allegations-cji/">CJI Gogoi reportedly said</a> in his defence citing that he had less than ten hours to present his defence. Ranjan Gogoi was one of the four judges who came out in an unprecedented press conference in January 2017 protesting against the then CJI <keyword id="6355251" type="PERSON" weightage="20" keywordseo="dipak-misra">Dipak Misra</keyword>. In a letter, four senior judges had said that “there have been instances where cases having far reaching consequences for the nation and the institution have been assigned by the chief justices of this court selectively to the benches ‘of their preference’ without any rationale basis for such assignment.” Gogoi signed off on the letter saying,“it’s a discharge of debt to the nation which we have done.”

India’s chief justice is faced with a shocking sexual harassment charge-- and the Supreme Court just held a special hearing on a Saturday

Mining conglomerate <keyword id="19919721" type="General" weightage="20" keywordseo="Vedanta" source="keywords">Vedanta</keyword> Ltd on Tuesday reported 36.5 per cent rise in consolidated net profit at Rs 3,606 crore for June quarter FY25 due to improved margins and robust cost reduction across all operations. The company had posted a net profit of Rs 2,640 crore in the year-ago period. Income rose to Rs 36,698 crore over Rs 34,279 crore in the year-ago period, according to an exchange filing. Vedanta said in a statement that the proposed demerger of its businesses is on track and it has already filed the demerger scheme with NCLT after getting a nod from secured creditors. The company said that its board has approved a capex investment of USD 270 million for its oil and gas business. "The strategic priority for the Cairn Oil &amp; Gas business is to augment reserves and increase near term volume through infill wells and enhanced oil recovery. In order to deliver this, the Board has approved capex investment (net) of USD 270 million across fields in the Rajasthan block for drilling wells and construction of surface facility for ASP ( Alkaline Surfactant Polymer) injection," the company said in a separate filing. Vedanta Executive Director Arun Misra said that the company has delivered a strong start to the year, with exceptional EBITDA improvement of 47 per cent and PAT improvement by 54 per cent year-over-year on the back of improved margins, and robust cost reduction across all operations. "Our aluminium and zinc divisions continue to outperform industry benchmarks, consistently ranking in the top quartiles and deciles of the global cost curve. These achievements are a direct result of our strategic focus on cost, as reflected in a 20 per cent year-over-year reduction in overall cost," he said. The company's growth projects are well on track and it remains committed to commission the majority of these projects in FY25. "Moving ahead, our focus on operational efficiency, sustained expansion, and ESG excellence will guide our journey. With this dedication, we are confident in our ability to create substantial shareholder value in the year ahead," he added. Last month, the mining conglomerate raised Rs 8,500 crore (over USD 1 billion) through Qualified Institutions Placement (QIP) of 19.31 crore equity shares at an issue price of Rs 440 per share. Company's CFO Ajay Goel said, "The overwhelming response to the Vedanta's... QIP...underscores investors' huge confidence. The proceeds from the QIP will be further instrumental in deleveraging the balance sheet and reduction of finance costs. We have received all the requisite approvals and have filed the demerger scheme with the National Company Law Tribunal (NCLT) taking our demerger a step closer to reality." The company's gross debt stood at Rs 78,016 crore as on June 30, 2024. Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading natural resources companies spanning across India, South Africa, Namibia, Liberia, the UAE, Korea, Taiwan and Japan with significant operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium, power and glass substrate. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank">Unicommerce eSolutions IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank">Electric two-wheeler sales cross the 1 lakh mark after four months, Ola Electric leads the market</a> <a href="https://www.businessinsider.in/sports/news/neeraj-chopras-paris-olympics-journey-to-begin-with-qualification-round-today-top-rivals-to-look-out-for/articleshow/112311760.cms">Neeraj Chopra qualifies for finals with a first throw of 89.34m – top rivals to look out for</a>

Vedanta Q1 profit surges 37% to ₹3,606 crore on improved margins

New Delhi, <keyword id="20108985" type="General" weightage="20" keywordseo="hindustan-zinc" source="keywords">Hindustan Zinc</keyword> Ltd (<keyword id="20256739" type="General" weightage="20" keywordseo="hzl" source="keywords">HZL</keyword>) on Friday posted a 6 per cent decline in consolidated net profit to Rs 2,028 crore during the quarter ended December 2023, dragged by lower income. It had clocked Rs 2,156 crore net profit during the October-December period of the preceding 2022-23 fiscal, the company said in an exchange filing. On a quarter-on-quarter (q-o-q) basis, the company's profit grew 17 per cent as against Rs 1,729 crore in the July-September quarter. During the quarter under review, the company's total income reduced to Rs 7,606 crore from Rs 8,214 crore a year ago. Its expenses were Rs 4,937 crore as against Rs 5,028 crore in the year-ago period. On the company's efforts to reduce carbon emissions, Arun Misra, Chief Executive Officer of HZL, said: "Hindustan Zinc has initiated the deployment of electric and LNG vehicles in its operations for inter-unit movements and finished goods transportation, thereby reducing the scope 3 emissions." Its CFO Sandeep Modi said, the performance "marks the company's fourth consecutive quarter of consistent cost improvement and the lowest cost in the last 10 quarters. We continue to remain focused on cost optimisation, operational efficiencies, working capital management, digital improvements and shareholder value maximisation." HZL's production of mined metal in the quarter rose 8 per cent to 271 kilo tonne (kt) sequentially and 7 per cent up year-on-year (y-o-y), driven by higher ore production at Rampura Agucha and <keyword id="20256741" type="General" weightage="20" keywordseo="sindesar-khurd" source="keywords">Sindesar Khurd</keyword> mines. In the quarter under review, its refined metal production grew 7 per cent to 259 kt sequentially and 1 per cent higher y-o-y. Integrated zinc production in the quarter increased 10 per cent to 203 kt sequentially and declined 4 per cent y-o-y. In the December quarter, production of refined lead fell 1 per cent to 56 kt sequentially but grew 21 per cent y-o-y. Its saleable silver production in the quarter was 197 MT (metric tonne), up 9 per cent q-o-q and 22 per cent y-o-y. <keyword id="20006961" type="General" weightage="20" keywordseo="sharing" source="keywords">Sharing</keyword> an update on the projects, HZL said its fumer and alloy plants are currently under operation after their commissioning in the last quarter, while a new roaster at Debari of 160 ktpa and Hindustan Zinc Fertilisers Private Ltd (HZFPL) of 510 ktpa for main process package is on track. The company generated a cash flow of Rs 2,097 crore during the quarter. Total borrowings outstanding as of December 2023 was Rs 10,111 crore. During the quarter, the company paid a dividend of Rs 2,535 crore. Hindustan Zinc is the world's second largest integrated zinc producer and fifth largest silver producer. The Udaipur-based company holds about 80 per cent of the growing zinc market in the country.

Hindustan Zinc Q3 net profit falls to Rs 2,028 crore

<keyword id="20169201" type="General" weightage="100" keywordseo="hindustan-zinc-ltd" source="keywords">Hindustan Zinc Ltd</keyword> (HZL) on Friday posted a 6% decline in consolidated net profit to Rs 2,028 crore during the quarter ended December 2023, dragged by lower income. It had clocked Rs 2,156 crore net profit during the October-December period of the preceding 2022-23 fiscal, the company said in an exchange filing. On a quarter-on-quarter (q-o-q) basis, the company's profit grew 17% as against Rs 1,729 crore in the July-September quarter. During the quarter under review, the company's total income reduced to Rs 7,606 crore from Rs 8,214 crore a year ago. Its expenses were Rs 4,937 crore as against Rs 5,028 crore in the year-ago period. On the company's efforts to reduce carbon emissions, Arun Misra, Chief Executive Officer of HZL, said: "Hindustan Zinc has initiated the deployment of electric and LNG vehicles in its operations for inter-unit movements and finished goods transportation, thereby reducing the scope 3 emissions." Its CFO Sandeep Modi said, the performance "marks the company's fourth consecutive quarter of consistent cost improvement and the lowest cost in the last 10 quarters. We continue to remain focused on cost optimisation, operational efficiencies, working capital management, digital improvements and shareholder value maximisation." HZL's production of mined metal in the quarter rose 8% to 271 kilo tonne (kt) sequentially and 7% up year-on-year (y-o-y), driven by higher ore production at Rampura Agucha and Sindesar Khurd mines. In the quarter under review, its refined metal production grew 7% to 259 kt sequentially and 1% higher y-o-y. Integrated zinc production in the quarter increased 10% to 203 kt sequentially and declined 4% y-o-y. In the December quarter, production of refined lead fell 1% to 56 kt sequentially but grew 21% y-o-y. Its saleable silver production in the quarter was 197 MT (metric tonne), up 9% q-o-q and 22% y-o-y. Sharing an update on the projects, HZL said its fumer and alloy plants are currently under operation after their commissioning in the last quarter, while a new roaster at Debari of 160 ktpa and Hindustan Zinc Fertilisers Private Ltd (HZFPL) of 510 ktpa for main process package is on track. The company generated a cash flow of Rs 2,097 crore during the quarter. Total borrowings outstanding as of December 2023 was Rs 10,111 crore. During the quarter, the company paid a dividend of Rs 2,535 crore. Hindustan Zinc is the world's second largest integrated zinc producer and fifth largest silver producer. The Udaipur-based company holds about 80% of the growing zinc market in the country.

Vedanta's Hindustan Zinc logs lower profit and revenue in Q3

<img class="gwt-Image" src="/photo/26351794.cms" /> After the <keyword id="8555" type="CITY" weightage="80" keywordseo="Tata">Tata</keyword>’s and <keyword id="6368386" type="COMPANY" weightage="80" keywordseo="Singapore-Airlines">Singapore Airlines</keyword> collaboration for <keyword id="3658" type="COUNTRY" weightage="80" keywordseo="India">India</keyword>, it seemed like <keyword id="86568" type="COMPANY" weightage="40" keywordseo="Air-Asia">Air Asia</keyword> will hit a speed bump and might be grounded for long. Then there was the Subramaniam Swamy’s petition in the Delhi high court to put a stay on the launch of the airline, which did not go too well in court. The Delhi High court has refused to put a stay on the launch and has agreed to hear the matter again on Dec 11. 
 At the moment the launch of the Airlines on the India turf is imminent. The Malaysian budget airline will get a regular air operators <keyword id="6360948" type="UNKNOWN" weightage="80" keywordseo="permit">permit</keyword> in Jan and can start the first of its flight then. Arun Misra, Director General and Civil Aviation confirmed that the airlines will get its permit in the next two months, which will enable them to operate India wide flights. 
 
Air Asia has plans to first operate in just South India. However, they will not add too many flights on the Indian sector and will test the waters first. Tier 2 and 3 towns seem to be favoured by the airlines, which will operate with an initial staff of modest 300 people. If the company does well and increases its operations in India, we just might see a budget airline price war in some sectors. However, that is still a far-off dream.

You Searched For "arun misra" and got 10 results

Vedanta's Q3 profit drops 18% on higher finance, raw material cost

PTI

Will explore all legal options to oppose Vedanta-Hindustan Zinc deal says govt

PTI

The CEO of one of the largest zinc miners eyes a share of Bangladesh's economic boom

Business Insider India

EXCLUSIVE: India's largest zinc miner is eyeing a share of the Bangladesh economic boom

Kritti Bhalla

ASCI and FSSAI join hands to curb misleading claims in food and beverage advertisements

BI India Partner

India’s chief justice is faced with a shocking sexual harassment charge-- and the Supreme Court just held a special hearing on a Saturday

Sriram Iyer

Vedanta Q1 profit surges 37% to ₹3,606 crore on improved margins

PTI

Hindustan Zinc Q3 net profit falls to Rs 2,028 crore

PTI

Vedanta's Hindustan Zinc logs lower profit and revenue in Q3

IANS

Air Asia Likely To Fly The Indian Skies In Jan 2014

Sulabh Puri