Hindustan Copper shines after robust sales in FY19

Hindustan Copper rose 2.36% to Rs 49.90 at 15:05 IST on BSE after the company's copper ore production rose 12% to 41.22 lakh tonne in the year ended 31 March 2019 over the year ended 31 March 2018.

The announcement was made after market hours yesterday, 4 April 2019.

Meanwhile, the S&P BSE Sensex was up 140.89 points or 0.36% to 38,825.61

On the BSE, 1.40 lakh shares were traded in the counter so far, compared with average daily volumes of 1.32 lakh shares in the past one quarter. The stock had hit a high of Rs 50.15 and a low of Rs 49.45 so far during the day.

Hindustan Copper's said that the company's copper ore production of 41.22 lakh tonnes is the best in the last twenty years (12% higher than that of the last fiscal year). The Metal-inconcentrate (MIC) production of the only vertically integrated Copper miner of India is 32,439 tonnes in 2018-19, which is the best in last sixteen years.

The ore production of the flagship Unit of HCL, Malanjkhand Copper Project, has been at an all-time high of 25.42 lakh tonnes during the fiscal year. Total copper sales volume during FY 18-19 has been 38,321 tonnes which is the highest in last nine years. All the figures are on provisional basis.

Hindustan Copper's net profit jumped 82.66% to Rs 34.56 crore on 10.10% rise in net sales to Rs 474.22 crore in Q3 December 2018 over Q3 December 2017.

Hindustan Copper is a vertically integrated copper producing company encompassing mining, beneficiation, smelting, refining and casting of refined copper metal.

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