Hind Copper's posts PBT of Rs 301.77 cr

Kolkata, Apr 17 (UNI) Hindustan Copper Limited, country's only vertically integrated producer of refined copper, has posted a net profit before tax (PBT) of Rs 302 crore and a sales turnover of Rs 1,828 crore this fiscal.

A company release said here today that the company has registered a record growth of 36 per cent in wire rod production, 13 per cent increase in refined cathode production and seven per cent rise in sales volume.

HCL, now on a fast growth track consequent upon the restructuring sanctioned by the Centre last year, was adopting specific measures for maximising capacity utilisation as well as modernising its mines and plants.

The company was also leveraging IT to make business processes more efficient and more responsive to current market needs.

To reduce dependence on imports of copper concentrate, HCL would lay specific emphasis on the mining segment.

Surda copper mine (Jharkhand), which remained close for the last five years has been reopened and work has already begun. HCL is pursuing renewal of the remaining mining leases from the West Bengal government to restart them as well.

The company also plans to open new mines by the fastest feasible means.

UNI PP KK KLC1809