Hindustan Copper Q1 FY 22 Result: Net profit rises 54% to Rs 46 cr

New Delhi: Hindustan Copper Limited (HCL) has announced its financial results for the first quarter of the current financial year (Q1 FY22) on Saturday. The Board of Directors of HCL, in its meeting held in Kolkata, have approved the financial results of the first quarter of the Financial Year 2021-22 (FY22). The company reported a 53.6 percent rise in consolidated net profit at Rs 45.63 crore. 

During the period the company has posted a profit before tax (PBT) of Rs 61.34 crore during the first quarter this year compared to Rs 24.79 crore in the corresponding period of the previous year, registering an increase of 147 percent.

The company had a consolidated net profit after tax and share of profit of JV/Associates of Rs 29.69 crore in the year-ago period, Hindustan Copper said in a filing to the BSE.

However, the consolidated income of the company during April-June dropped to Rs 278.73 crore, over Rs 441.38 crore in the year-ago period, the filing said.

Hindustan Copper Limited (HCL) is a Miniratna PSU under the Ministry of Mines. It was incorporated in November 1967, with five manufacturing units. It has the distinction of being the nation's only vertically integrated company encompassing facilities of mining, beneficiation, smelting, refining and casting of refined copper metal.

(PSU Watch– India's Business News center that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)