Hindustan Copper reports strong results in Q3 FY24

The Board of Hindustan Copper Limited in its meeting held in Kolkata today has approved the Financial 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.

Shares of Hindustan Copper Limited was last trading in BSE at Rs. 250.20 as compared to the previous close of Rs. 241.20. The total number of shares traded during the day was 1052053 in over 13837 trades.

The stock hit an intraday high of Rs. 252.70 and intraday low of 237.00. The net turnover during the day was Rs. 256302913.00.

Source : Equity Bulls

Keywords

HindustanCopper INE531E01026 Q3FY24 9MFY24 ResultUpdate