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Hindustan Copper Q3 Net Profit increases by 83% (Fin. Results April-Dec 2018 )

Feb 11th, 2019 5:59 pm | By | Category: LATEST NEWS

Santosh Sharma CMD, HCL

Santosh Sharma
CMD, HCL


(THE NEWSMAN OF INDIA)
Hindustan Copper Ltd. Of which Santosh Sharma is the CMD,The Board of Hindustan Copper Ltd. in its meeting held on 11th February 2019 at Kolkata approved the financial results of nine months of the Financial Year 2018-19.

The Profit Before Tax of the Company during nine month period of FY 18-19 has increased to Rs 155.72 crore from Rs 88.16 crore in the corresponding period of the previous year, registering a growth of 77%. The Net Revenue from operations during nine months of the current fiscal was Rs 1361.48 crore as compared to Rs 1288.96 crore in the same period of 2017-18. The EBITDA margin during the period April-December’18 was 28% compared to 17% during corresponding period of the previous fiscal.

At the production front, the growth momentum has been maintained. During the period April to Dec ’18, Copper ore production has been 30.11 lakh tonne as against 26.08 lakh tonne in the corresponding period last fiscal, thus registering a growth of 15%.

In the financial results for the third Quarter taken on record by the Board, HCL has posted a Profit Before Tax of Rs 51.35 crore as against Rs 28.13 crore in the corresponding quarter in the last fiscal, registering a growth of 83%. Revenue from operations was Rs 474.22 crore as compared to Rs 430.70 crore last year quarter.

SSantosh Sharma, CMD, HCL, informed that despite high volatility in LME copper prices and high input cost, the Company has shown robust performance. The growth in profit is primarily due to HCL’s commitment to increase Copper ore production and focus on sale of high margin products.

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