Monday 26th February 2024

Hindustan Copper Q3 reports strong results

Feb 13th, 2024 8:41 pm | By | Category: LATEST NEWS


(THE NEWSMAN OF INDIA.COM)
Kolkata, 13.02.2024: The Board of Hindustan Copper Limited in its meeting held in Kolkata today has approved the Financially Results for the third quarter of the current fiscal year 2023-24. During the quarter, financial and physical performance of the Company has been improved upon.

The Profit Before Tax achieved during the quarter ending December 2023 was Rs 82.18 crore on a turnover of Rs 394.26 crore. The turnover was around 6% higher than the immediate preceding quarter. Similarly, the PBT achieved in nine months ending Dec 2023 was Rs 227.14 crore on a Turnover of Rs 1132.14 crore. This is despite the fact that the company paid a land tax arrear of Rs 15 crore and increased Royalty on account of renewal of mining lease for 20 years at its flagship project at Malanjkhand, Madhya Pradesh.

On the production front, the growth momentum has been maintained. During the nine months ended December 2023, mine production in terms of Copper ore and Metal-in-concentrate has increased by around 21% and 5% respectively as compared to the corresponding period of the last year.

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