Hindustan Copper net surges by 83%

KOLKATA: State-owned Hindustan Copper Ltd on Monday reported a net profit of Rs 51.35 crore for the third quarter ended December 2018, up 83 per cent over the corresponding period profit of last year. The copper miner had reported Rs 28.13 crore net profit in the same period of 2017-18. Revenue from operations during the quarter was at Rs 474.22 crore, as against Rs 430.70 crore in the corresponding quarter of the previous year. "Despite high volatility in London Metal Exchange copper prices and high input costs, the company has shown robust performance. The growth in profit is primarily due to HCLs commitment to increase copper ore production and focus on the sale of high margin products," Hindustan Copper, CMD, Santosh Sharma said.