Hindustan Copper's Net Profit Falls by 6% in March Quarter

State-owned Hindustan Copper Ltd reported a 6% drop in consolidated net profit for the March quarter, amounting to Rs 124.33 crore. This is a decrease from Rs 132.31 crore in the same period last year. Consolidated income also fell to Rs 585.22 crore. However, the profit before tax rose significantly by 123% from the previous quarter, reaching Rs 183.29 crore. The board recommends a 30.11% dividend payout of PAT, estimated at Rs 88.97 crore.

State-owned Hindustan Copper Ltd on Friday reported a 6 per cent drop in consolidated net profit to Rs 124.33 crore for the March quarter.

The company had posted a consolidated net profit of Rs 132.31 crore in the year-ago period. The consolidated income during the January-March period dropped to Rs 585.22 crore over Rs 611.37 crore in the year-ago period. ''The company has achieved a profit before tax of Rs 183.29 crore in the quarter ended March 2024, which is a whopping 123 per cent higher than the immediately preceding quarter,'' Hindustan Copper said in a statement. ''The board has recommended a dividend of 30.11 per cent of PAT for 2023-2024. The payout on this account is estimated to be Rs 88.97 crore to the shareholders of the company,'' it said.