Hind Copper Q2 net up 38.7% on higher sales

KOLKATA: Hindustan Copper has posted a 38.7% rise in net profit to Rs 62 crore in the second quarter ended September 2013 compared to a net of Rs 43.7 crore in the same period last year.

Net sales crossed 334.2 crore in Q2 FY'14 showing an increase of 17.6% against Rs 283.9 crore in the same period last year.

HCL earned Rs 84.64 crore as profit before tax (PBT) during the quarter compared to a PBT of Rs 54.74 crore in the previous corresponding period.

In terms of sales, HCL achieved a volume of 7098 tonnes during the quarter under review, 21% higher than sales in the corresponding period last year, a company statement said On the production front, HCL managed to maintain its growth momentum.

During the quarter, mine production in terms of copper content was 8,374 tonne against 6,848 tonne in the corresponding period of the last year.

The board of Hindustan Copper Limited approved the company's financial results for the second quarter of 2013-14 in its meeting held in New Delhi on Wednesday.