Hindustan Copper Q3 Net up 83% to Rs 51 crore
State-owned Hindustan Copper Ltd on Monday reported a net profit of Rs 51.35 crore for the third quarter ended December 2018, up 83 percent over the corresponding period profit of last year.
The copper miner had reported Rs 28.13 crore net profit in the same period of 2017-18.
Revenue from operations during the quarter was at Rs 474.22 crore, as against Rs 430.70 crore in the corresponding quarter of the previous year.
“Despite high volatility in London Metal Exchange copper prices and high input costs, the company has shown robust performance. The growth in profit is primarily due to HCLs commitment to increase copper ore production and focus on the sale of high margin products,” Hindustan Copper Chairman and Managing Director Santosh Sharma said.
During April-December’18, Copper ore production was at 30.11 lakh tonne, as against 26.08 lakh tonne in the corresponding period last fiscal, registering a growth of 15 percent.