Hindustan Copper profit jumps 83% to Rs 146 crore for FY19

Home Markets Hindustan Copper profit jumps 83% to Rs 146 crore for FY19
Hindustan Copper profit jumps 83% to Rs 146 crore for FY19

Kolkata: State-owned Hindustan Copper has posted a 83% jump in net profit for the year 2018-19 to Rs 145.74 crore compared to the previous fiscal riing on higher production and sales volume. The companys net revenue from operations was Rs 1,816.25 crore in 2018-19, which was 9% higher than Rs 1670.48 crore achieved in 2017-18. It is also its best ever revenue income since inception.

During the fourth quarter of 2018-19 (Q4FY19), HCL posted a profit before tax of Rs 74.63 crore compared to Rs 33.88 crore in previous corresponding period Q4FY18. The country's only integrated copper producer, HCl managed to post a significant increase in earnings before interest depreciation, taxes and amortisation (EBIDTA) margin, during FY19. HCL's EBIDTA margin in FY19 was at 30% compared to 19% achieved in the previous year, FY18, while operating profit margin during FY19 was 14.19% compared to 6.23% achieved in FY18.

The company's audited financial results for the financial year 2018-19 was approved by its board of directors in the meeting held in new Delhi on Tuesday. The HCL board also recommended payment of dividend @ 5.05% approx. or Re 0.52 per share of Rs. 5/- face value for the year 2018-19, subject to approval of shareholders.

During FY19, the company registered its highest ever copper ore production in last 21 years at 41.22 lakh tonne. Ore output was up 12% compared to 36.75 lakh tonne in FY18, is step with HCL's planned ramp-up in pRead More – Source

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