INSUBCONTINENT EXCLUSIVE:
Kolkata: Hindustan Copper Ltd (HCL), the state owned copper producer, reported a 28.5% rise in profit after tax of Rs 79.60 crore for
2017-18 compared to a profit after tax of Rs 61.94 crore in 2016-17
The company posted a profit before tax of Rs 122 crore in 2017-18, up 29.7% against Rs 94 crore in 2016-17
Gross revenue from operations registered a growth of 31%, at Rs 1,720 crore compared to Rs 1,311 crore in the previous year
Earnings before interest, tax, depreciation and amortisation (EBITDA) was Rs 308 crore in 2017-18 compared to Rs 246 crore in the previous
year.
Copper sales volume increased by 26% to 36,435 tonne in 2017-18 compared to 28,888 tonne in the previous fiscal posting the best ever
volume in last seven years
production was 4% higher than 2016-17
While production was better than the corresponding period of last year, sales realisation was lower due to unfavourable market conditions
However, it has improved since then and is likely to be reflected in subsequent quarters of current fiscal year, an official statement
Hindustan Copper Ltd has informed BSE that the Board of Directors of the company has recommended payment of dividend for financial
0.25 per share of the face value of Rs
5 each for approval of shareholders in the forthcoming Annual General Meeting (AGM) of the company.
HCl said its Malanjkhand underground
mine project, which is the flagship expansion project of the company, is progressing as per schedule
The company plans to commence production from the underground mine from December 2018
During 2017-18, two mine expansion projects, namely Banwas mine at Rajasthan and Kendadih mine at Jharkhand, were commissioned
Consequently, in the current year 2018-19, HCL said it expects significant growth in the mine production.
During 2017-18, the company had
A compatible technology has been developed to extract minerals and metals from copper ore tails (CoT), a waste generated during copper ore
beneficiation, the statement said
A plant with annual capacity of 3.3 million tonne has been constructed at Malanjkhand, Madhya Pradesh which is expected to be commissioned
infrastructure, construction, manufacturing and renewal energy, the company expects to benefit from greater demand for copper in the
