Hindustan Copper Limited (HCL) announced its annual results for the financial year 2020-21, reporting a net profit of Rs 109.98 crore, compared to a loss of Rs 598.21 crore in the previous fiscal year 2019-20. The central public-sector enterprises (CPSE) under the Ministry of Mines, reported a total income of Rs 1,821.61 crore in fiscal 2020-21, compared to Rs 888.81 crore in the previous financial year.
The public-sector company declared a dividend of a total amount of Rs 33.85 crore, which is to be paid in the current financial year 2021-22, according to the guidelines issued by the Department of Public Enterprises, said the Ministry of Mines in a statement released on Friday, July 2. Hindustan Copper also reduced its debt burden which resulted in a debt-equity ratio of 2.11 lower than the previous year’s mark of 4.21.
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 sulfate, among others as by-products. It has offices and production facilities at several locations across the country.
On Friday, shares of Hindustan Copper Limited settled 1.43 percent lower at Rs 140.85 apiece on the NSE. Hindustan Copper opened at Rs 142.50 on the NSE, inching to an intraday high of Rs 143.70 and an intraday low of Rs 140.40, throughout the trading session today.
In March 2021, the stock rallied as much as 83 percent in six trading sessions and advanced over 150 percent since February, when it announced the company declared its October-December quarter earnings. Hindustan Copper shares were in huge demand due to rising copper prices in the international markets.