Hindustan Copper drops on weak Q3 earnings

Hindustan Copper lost 3.16% to Rs 68.90 at 10:30 IST on BSE after the company reported 84.64% fall in net profit to Rs 10.59 crore on 42.14% fall in total income to Rs 257.17 crore in Q3 December 2014 over Q3 December 2013.

The company announced Q3 results after market hours yesterday, 5 February 2015.

Meanwhile, the BSE Sensex was down 49.03 points, or 0.19%, to 28,796.96.

On BSE, so far 29,327 shares were traded in the counter, compared with an average volume of 83,014 shares in the past one quarter.

The stock hit a high of Rs 69.40 and a low of Rs 68.55 so far during the day. The stock hit a 52-week high of Rs 125 on 11 June 2014. The stock hit a 52-week low of Rs 57.75 on 3 March 2014.

The stock had underperformed the market over the past one month till 4 February 2015, falling 2.93% compared with 3.57% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 16.1% as against Sensex's 3.67% rise.

The mid-cap PSU firm has equity capital of Rs 462.61 crore. Face value per share is Rs 5.

Hindustan Copper, a public sector enterprise of the Government of India was incorporated on 9th November 1967. It has the distinction of being India's only vertically integrated copper producing company encompassing mining, beneficiation, smelting, refining and casting of refined copper metal.

The government of India holds 89.95% stake in the firm as at 31 December 2014.

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