Hindustan Zinc to rework on its plan to boost volumes

In a bid to boost volumes, Hindustan Zinc, a Vedanta Resources company is planning to rework on its plan as it remained unable to meet its 2013-14 mining target. The company’s mined metal production for the year ended March was 880,000 tonnes, down from its target of 1 million tonnes announced in the beginning of the financial year. Production in the second half of 2013-14 was lower than the company’s expectation due to a slower than expected ramp-up of underground mining projects and changes in the mining sequence. For the year ended March 31, 2014, the company posted a marginal rise of 0.07% in its net profit at Rs 6,904.62 crore as compared to Rs 6,899.48 crore for the same period in the previous year. Total income increased by 5.66% at Rs 15,535.43 crore for year under review as compared to Rs 14,703.03 crore for the period ended March 31, 2013.