Hindustan Copper Q3 net down 9 per cent at Rs 69 crore

Hindustan Copper Ltd (HCL) on Wednesday reported a 9 per cent dip in its net profit at Rs 69 crore for the third quarter that ended in December 2013, mainly on account of increased expenses.

The Kolkata-based state-run firm had clocked a net profit of Rs 76 crore in the corresponding quarter of the previous fiscal year (FY13).

The copper producer's total income from operations rose 37 per cent to Rs 427 crore in Q3 as compared to Rs 311 crore in the year-ago period.

Other income was registered at Rs 17.46 crore during the quarter as against Rs 69.54 crore a year ago.

Total expenses of the firm went up by 31 per cent to Rs 353 crore from Rs 269 crore a year earlier.

Shares in Hindustan Copper, on Wednesday, ended at Rs 61.85 apiece on the BSE, up 0.08 per cent from the previous close.