Hind Copper eyes better margin, Rs 273-cr net profit in FY'14

Hoping for higher margins, Hindustan Copper expects to better its net profit this fiscal at Rs 273.05 crore on the back of Rs 1,651 crore gross sales.

The state-owned firm is expected to clock Rs 225.18 crore net profit in 2012-13, it also said in a MoU with Mines Ministry for the current fiscal.

The expected net profit for FY'13 is a little higher than the MoU target of Rs 224.61 crore with the Mines Ministry for the year.

Hindustan Copper is yet to come out with its audited financial results for 2012-13.

The company had reported Rs 323.44 crore net profit in 2011-12.

The PSU hopes its gross margin to improve to Rs 569.37 crore from Rs 444.26 crore in 2012-13.

Gross sales of the company is likely to be Rs 1,399.11 crore in 2012-13, down from Rs 1,638.18 crore a year ago.

It hopes to produce 39 lakh tonnes ore and 35,200 tonnes of metal concentrate in the current fiscal.

Shares of Hindustan Copper closed at Rs 100.45, down 1.03%, on the BSE.