Hindustan Copper Posts 10% Rise in Q1 Profit

New Delhi: Hindustan Copper Ltd on Tuesday reported a 10 per cent increase in net profit at Rs 14.57 crore for the April-June quarter of current fiscal year (2015-16).

The state-run company, which is under the administrative control of the Ministry of Mines, had registered a net profit of Rs 13.20 crore for the corresponding period a year ago.

Net sales, during the quarter ended June 2015, dipped 20 per cent to Rs 234.48 crore, from Rs 293.34 crore in the year-ago period.

Total expenditure declined by 23.85 per cent to Rs 298.96 crore as against Rs 227.65 crore in the quarter ended June 2014.

Hindustan Copper Ltd has the distinction of being the country's only vertically integrated producer of the metal, as it manufactures copper right from the stage of mining to beneficiation, smelting, refining and casting of refined copper metal into downstream saleable products.

The company markets copper cathodes, copper wire bars, continuous cast copper rods and by-products, such as anode slime, copper sulphate and sulphuric acid.

More than 90 per cent of the sales revenue comes from cathode and continuous cast copper rods.

Hindustan Copper's mines and plants are spread across four operating units in four states.

Its Khetri Copper Complex (KCC) is at Khetrinagar, Rajasthan, Indian Copper Complex (ICC) at Ghatsila, Jharkhand, Malanjkhand Copper Project (MCP) at Malanjkhand, Madhya Pradesh and Taloja Copper Project (TCP) at Taloja, Maharashtra.

Shares in Hindustan Copper, on Tuesday, ended over 3 per cent lower at Rs 62.10 apiece on the BSE.