State-owned Hindustan Copper on Saturday, February 8 reported a net profit of ₹62.9 crore for the quarter that ended on December, a fall of 0.15% per cent from ₹63 crore in the same quarter of the previous year.
The total income of Hindustan Copper dipped nearly 16% to ₹343.57 crore against ₹409.24 crore in the corresponding quarter of the previous year.
The company's revenue from operations fell marginally to ₹327.77 crore from ₹399.29 crore in Q3FY24.
The total expenses stood at ₹259.11 crore for the quarter ended on December 31 from ₹327.06 crore in the corresponding quarter last year.
Earnings per share (EPS) for Hindustan Copper stood at ₹0.65 for Q3.
On Friday, February 7, the shares of Hindustan Copper closed at ₹244.25.
Along with the quarterly results, the Hindustan Copper Board appointed Mritunjay Kumar Dev, Senior Manager as the Company Secretary and Compliance Officer after the expiry of the tenure C S Singhi from April 3, 2025 onwards.
About Hindustan Copper
Hindustan Copper Ltd is a public sector company administered by the Ministry of Mines. It was incorporated by the government of India in 1967. The company mostly deals in the mining of copper ore and has ownership of all the operating mining leases of copper ore. It is the only integrated producer of refined copper.
The company produces and markets copper concentrate, copper cathodes, cast copper rods and by-products, including anode slime, copper sulphate and sulphuric acid.
Hindustan Copper, the sole copper mining company in the country, controls about 80% of India’s copper reserves.
In December 2024, the Comptroller and Auditor General (CAG) of India raised concerns over the operational performance of state-run Hindustan Copper Ltd in its report tabled in parliament, Mint reported on December 5, 2024.
The report highlighted significant lapses in exploration, mining capacity enhancement, and marketing strategies, impacting the company's contribution to copper production in India.
