Hot Pursuit     25-May-24
Hindustan Copper Q4 PAT slips 6% YoY; board OKs raising Rs 500-cr via NCDs
Hindustan Copper’s consolidated net profit from continuing operations decreased 5.61% to Rs 124.75 crore in Q4 FY24 as compared with Rs 132.17 crore posted in Q4 FY23.
Revenue from operations rose marginally on YoY basis to Rs 565.37 crore in the quarter ended 31 March 2024.

Profit before tax stood at Rs 183.73 crore in March 2024 quarter, up 5.63% from Rs 173.93 crore in same quarter last year.

Total expenses declined 8.22% to Rs 401.49 crore in fourth quarter of FY24 over same period a year ago. Cost of material consumed was at Rs 15.88 crore (up 115.76% YoY) while employee benefits expense was Rs 62.58 crore (down 20.75% YoY) during the period under review.

On a full year basis, the company’s consolidated net profit rose marginally to Rs 295.73 crore in FY24 as against Rs 295.32 crore in FY23. Revenue from operations increased 2.37% YoY to Rs 1,717 crore in the financial year ended March 2024.

Meanwhile, the board recommended a dividend of Re 0.92 per equity share for the financial year ended 2023-24.

Further, the company’s board has recommended to seek approval of shareholders to offer, issue and allot secured or unsecured non-convertible debentures or bonds on private placement basis up to Rs.500 crore.

Hindustan Copper (HCL) is a vertically integrated copper producing company. The principal activities of the company are exploration, exploitation, mining of copper and copper ore including beneficiation of minerals, smelting and refining.

The scrip fell 0.75% to end at Rs 371.40 on Friday, 24 May 2024.

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