The state-run Hindustan Copper on Saturday posted a consolidated net profit of Rs 89 crore for the fourth quarter of the 2021-22 financial year as against a loss of Rs 37 crore in the year-ago period.
The revenue from operations during the quarter under review was Rs 545 crore, up from Rs 522 crore in the corresponding period of the previous year, the company said in a regulatory filing.
The net revenue was Rs 1,822 crore for the year ended March 31, 2022 and the net profit stood at Rs 374 crore.
The Kolkata-headquartered company had posted a net profit of Rs 110 crore in FY21.
The EBITDA (earnings before interest, taxes, depreciation and amortisation) margin of the company improved to 31 per cent, it said in a statement.
“The profitability reported is even after providing pending revision of workers’ wages since November 2017 having an implication of Rs 80.65 crore,” it said.
The profitability has “improved due to dynamic marketing policy, effective procurement of services, reduction of loans and rise in LME (London Metal Exchange) prices, the company statement said.
Its board recommended a dividend of 23.20 percent for FY 2021-22 as against 7.32 percent last year and the payout on this account is estimated at Rs 112.17 crore.
During the year, the company reduced interest cost by Rs 33.67 crore with a higher repayment of debt. (PTI)