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Posted on Feb 14, 06:45PM | IBNS
Kolkata, Feb 14 : Hindustan Copper Limited (HCL), a public sector undertaking under the administrative control of the Ministry of Mines, compared to the previous Quarter, has improved its performance in the Third Quarter of the current financial year (2012-13).
The performance of the company has improved both on production and financial front.
The Board of Directors of HCL has approved the financial result of the Third Quarter at the meeting held in Kolkata.
During the Third Quarter, the ore production has been 8.92 lakh tonnes which is 7.5 % more than previous Quarter and compared to the corresponding Quarter of previous year (i.e. on QoQ basis) it is 2.5% higher.
During the Quarter, Sales Turnover and Profit Before Tax (PBT) have been Rs 350.0 crore and Rs 110.52 crore respectively. The Turnover and PBT have decreased by 8 % & 1.9 % respectively.
The Board has also approved the award of EPC contract for re-opening and expansion of Rakha mine to the Consortium of M/s Kopex Shaft Sinking Company, Poland, (the lead partner) and M/s India Resource Ltd, Australia, at the cost of Rs 259.91 crore.
The capacity of Rakha mine has been designed to produce ore at the rate of 1.5 million tonne per annum.