Hindustan Copper reports Rs 34.56 crore profit
State-run Hindustan Copper on Monday reported 83 per cent increase in its net profit to Rs 34.56 crore in the quarter ended December 31, 2018 as compared to Rs 18.92 crore in the year-ago period. Revenue from operations, during the quarter under review, was at Rs 474.22 crore, up by over 10 per cent from Rs 430.70 crore in the corresponding quarter of last fiscal.
The EBITDA margin during April-December 2018 was 28 per cent compared to 17 per cent during the corresponding period of the previous fiscal. "The growth in profit is primarily due to increase copper ore production and focus on sale of high margin products," Chairman and Managing Director Santosh Sharma said.
Copper ore production was at 30.11 lakh tonne in the April-December period in the current fiscal, as against 26.08 lakh tonne in the corresponding period last fiscal, thus registering a growth of 15 per cent.
(With inputs from agencies.)