Hindustan Zinc appoints new CEO as strong metal prices drive profit surge
India's Hindustan Zinc has appointed Amarendu Prakash as its next chief executive officer while reporting a sharp increase in quarterly earnings, supported by a strong rise in base and precious metal prices.
The company announced on Friday that Prakash, the former chairman and managing director of state-owned steel producer Steel Authority of India Limited (SAIL), will take over as CEO-designate on August 1. He will succeed Arun Misra, whose term concludes on July 31.
Leadership transition at major Indian metals producer
Prakash brings extensive experience from the Indian steel sector, having led SAIL, one of the country's largest public-sector steel companies. His appointment comes as Hindustan Zinc benefits from favourable market conditions for key commodities.
The leadership change is expected to guide the company's next phase of growth as demand for industrial metals remains supported by infrastructure development and energy transition-related investments.
Quarterly profit more than doubles
Hindustan Zinc reported that its first-quarter profit more than doubled compared with the previous year, driven by higher prices for base metals and precious metals.
The company, a major producer of zinc and silver, benefited from improved commodity market conditions that strengthened revenues and profitability during the period.
Metals sector gains from stronger prices
The rise in metal prices has provided support for mining companies globally, improving margins and boosting financial performance. Producers of essential industrial materials have benefited from continued demand linked to construction, manufacturing and clean energy technologies.
For Hindustan Zinc, the improved earnings performance provides a strong foundation as the company prepares for a leadership transition and continues to expand its role in India's resources sector.
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