New Delhi: Hindustan Copper Limited (HCL), a PSU under the Ministry of Mines, has declared its annual results for the financial year (FY 2020-21). The results have reflected a turnaround story. In spite of the COVID-19 pandemic, the company has been able to achieve a total income of Rs 1,821.61 crore in FY 2020-21 as compared to Rs 888.81 crore in FY 2019-20. The company also achieved a net profit (PAT) of Rs 109.98 crore this year against a loss of Rs 569.21 crore in FY 2019-20.
The company has been able to declare a dividend of a total amount of Rs 33.85 crore to be paid in FY 2021-22, as per the guidelines issued by the Department of Public Enterprises. HCL has been able to reduce its debt burden resulting in a debt-equity ratio of 2.11 reduced from earlier year's 4.21.
The company has also been continuously supporting the government initiatives and creating the infrastructure required towards mitigation of the COVID-19 pandemic nearby its mining units for the local population and for its employees.
Hindustan Copper Limited (HCL) is a Miniratna PSU under the Ministry of Mines. The main objective of the company is exploration, mining, beneficiation of copper ore, smelting and refining and processing of downstream products. The company has copper mines at Malanjkhand in Madhya Pradesh, Khetri (Rajasthan), Ghatsila (Jharkhand). It has smelters at Ghatsila (Jharkhand) and at Jhagadia (Gujarat) and a Continuous Cast Copper Wire Rod plant at Taloja (Maharashtra).
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