PTI reported that Vedanta Group firm Hindustan Zinc will pay a record interim dividend and corporate dividend tax of INR 736.62 crore to the Government of India.

The company said that the amount of interim dividend paid to Government of India is INR 187.19 crore. The total contribution by Hindustan Zinc to the government on account of interim dividend and corporate dividend tax would be INR 736.62 crore.

Mr Anil Agarwal led firm claims to be the world's largest integrated producer of zinc and lead. The Board of Directors of the company in its meeting held on October 19th 2011 had declared interim dividend of 75% INR 1.50 per equity share of INR 2 each for the year 2011 to 2012. The Government of India holds 29.53% equity shares in the company.

Mr Agnivesh Agarwal chairman of Hindustan Zinc said that "Our partnership with the government continues to scale new heights. Not only do we run a robust business but our partnership with the government for running sustainable and development projects. Touches the lives of over half a million people across Rajasthan."

The company had reported a 41.74% jump in its net profit to 1,344.69 crore for the quarter ended September 30th 2011 on the back of higher prices of zinc, lead and silver in international markets.

It had reported a net profit of INR 948.72 crore for the same period a year ago. Net sales of the company stood at INR 2,593.49 crore registering a growth of 19.92% during the quarter under review from INR 2,162.88 crore in the July to September quarter of FY2011.

During the quarter, the company's revenues from its refined zinc and lead businesses increased 12.21% to INR 2,320.31 crore while its silver business reported a growth of over 120% to INR 239.39 crore.

(Sourced from Press Trust of India)