Hindustan Copper’s Q4 revenue reported flat with margin near 40%

27 May 2024 , 11:31 AM

Due to a dramatic decline in expenses, Hindustan Copper Ltd.’s Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) margin increased by nearly 600 basis points year on year to 39.95% in the March quarter.

Other expenses at Hindustan Copper were reduced by 4% from the previous year, while labour power and fuel costs fell 21% year on year.

Despite lower costs, the company’s bottom line fell by 6% to ₹124.8 Crore, down from ₹132.2 Crore in the same period last year. This was attributable to a 62% year-on-year decrease in Hindustan Copper’s other income during the quarter.

Hindustan Copper reported flat revenue of ₹565 Crore and a 21% increase in EBITDA to ₹225.7 Crore.

As of March 2024, the government owned 66.14% of the corporation, with the LIC owning 6.88%. Foreign institutional investors hold 3.13% of the business, while Quant Mutual Fund owns 2.38%.

Hindustan Copper’s revenue remained stable at ₹565 Crore, but EBITDA grew by 21% to ₹225.7 Crore.

As of March 2024, the government owned 66.14% of the corporation, while the LIC owned 6.88%. Foreign institutions own 3.13% of the firm, while Quant Mutual Fund has 2.38%.

With global copper prices on the upswing, Hindustan Copper’s margins may rise even further from their present 40% levels. Prices surpassed $11,000 per tonne last week, with an expert research predicting that prices might increase to $40,000 per tonne in the coming years.

At around 11.20 AM, Hindustan Copper was trading 1.16% lower at ₹367.30, against the previous close of ₹371.60 on NSE. The counter touched an intraday high and low of ₹379.50, and ₹362.20, respectively.

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