Hindustan Copper back in the black with Rs109.98 cr net profit in FY21
05 July 2021
Hindustan Copper Limited (HCL), a central public sector enterprise (CPSE) under the ministry of mines, has reported a net profit of of Rs109.98 crore for the financial year ended 31 March 2021, against a net loss of Rs569.21 crore in the 2019-20 financial year.
In spite of the naeionwide lockdown caused by the Wuhan virus pandemic, the company has been able to achieve a total income of Rs1,821.61 crore in FY 2020-21 compared to Rs888.81 crore in FY 2019-20.
The company also declared dividend totalling Rs33.85 crore, to be paid in FY 2021-22, as per the guidelines issued by Department of Public Enterprises. HCL has been able to reduce its debt burden resulting in a debt equity ratio of 2.11 from earlier year's 4.21.
The company has also been continuously supporting the government initiatives and creating infrastructure required towards mitigation of the pandemic nearby its mining units for the local population and for its employees.
The Kolkata-headquartered state-owned entity is the only vertically integrated copper producer in the country and is engaged in a range of activities such as smelting, mining, refinery work, cathode pulling, anode casting, among others.
Incorporated in 1967, the company also produces gold. silver, selenium, nickel sulphate, among others as byproducts. It has offices and production facilities at several locations across the country.