Introduction:
Hindustan Zinc, a leading producer in the zinc industry, has achieved a significant milestone by recording a 14% drop in greenhouse gas emission intensity. This notable achievement underscores the company’s commitment to sustainable and environmentally responsible operations.
Hindustan Copper Q4 FY24 Financial Performance
Hindustan Copper Ltd (HCL) has released its financial results for the fourth quarter of FY24, demonstrating mixed performance metrics. Here’s a detailed breakdown:
Quarterly Performance Highlights:
Net Profit: HCL’s consolidated net profit for Q4 FY24 decreased by 5.61%, amounting to Rs 124.75 crore compared to Rs 132.17 crore in the corresponding quarter of the previous year.
Revenue from Operations: The revenue from operations rose marginally on a year-over-year (YoY) basis to Rs 565.37 crore for the quarter ended 31 March 2024.
Profit Before Tax (PBT): Profit before tax increased by 5.63%, reaching Rs 183.73 crore in Q4 FY24, up from Rs 173.93 crore in Q4 FY23.
Total Expenses: The total expenses declined by 8.22%, standing at Rs 401.49 crore in Q4 FY24, compared to the same period last year.
Zinc and Copper: Environmental Milestones and Financial Insights:
- Cost of Materials Consumed: There was a significant increase of 115.76% in the cost of materials consumed, which reached Rs 15.88 crore.
- Employee Benefits Expense: Employee benefits expense dropped by 20.75% to Rs 62.58 crore during the review period.
Full Year Performance:
- Net Profit: On an annual basis, HCL’s consolidated net profit rose marginally to Rs 295.73 crore in FY24, compared to Rs 295.32 crore in FY23.
- Revenue: The revenue from operations saw a YoY increase of 2.37%, reaching Rs 1,717 crore for the financial year ending March 2024.
Dividend and Financial Proposals:
- Dividend: The board has recommended a dividend of Re 0.92 per equity share for the financial year 2023-24.
- Debentures/Bonds: The board also recommended seeking shareholders’ approval to issue and allot secured or unsecured non-convertible debentures or bonds on a private placement basis, amounting up to Rs 500 crore.
Company Overview:
Hindustan Copper (HCL) is a vertically integrated copper producing company. The principal activities include the exploration, exploitation, and mining of copper and copper ore, beneficiation of minerals, smelting, and refining.
Stock Performance:
As of 24 May 2024, Hindustan Copper’s share price fell by 0.75%, closing at Rs 371.40.
Conclusion:
Hindustan Zinc’s significant reduction in greenhouse gas emissions and Hindustan Copper’s stable financial performance, despite some quarterly challenges, reflect the companies’ ongoing efforts in operational efficiency and sustainable practices.
The recommended dividend and potential issuance of debentures indicate a strategic approach to maintaining financial health and growth prospects.
Frequently Asked Questions FAQ:
1. What is the significance of Hindustan Zinc’s 14% reduction in greenhouse gas emission intensity?
Hindustan Zinc’s 14% reduction in greenhouse gas emission intensity is a major milestone demonstrating the company’s commitment to sustainability and reducing its environmental impact. This achievement reflects the company’s efforts in implementing eco-friendly practices and technologies.
2. How did Hindustan Copper perform financially in Q4 FY24?
In Q4 FY24, Hindustan Copper’s consolidated net profit decreased by 5.61% to Rs 124.75 crore compared to Rs 132.17 crore in Q4 FY23. However, the revenue from operations saw a marginal increase to Rs 565.37 crore. Profit before tax rose by 5.63% to Rs 183.73 crore, and total expenses declined by 8.22% to Rs 401.49 crore.
3. What were the main factors affecting Hindustan Copper’s expenses in Q4 FY24?
Hindustan Copper’s expenses in Q4 FY24 were influenced by a significant increase in the cost of materials consumed, which rose by 115.76% to Rs 15.88 crore. On the other hand, employee benefits expenses decreased by 20.75% to Rs 62.58 crore.
4. How did Hindustan Copper perform on a full-year basis in FY24?
For the full year FY24, Hindustan Copper’s consolidated net profit slightly increased to Rs 295.73 crore from Rs 295.32 crore in FY23. The revenue from operations grew by 2.37% year-over-year to Rs 1,717 crore.
5. What dividend has Hindustan Copper recommended for FY24?
Hindustan Copper’s board has recommended a dividend of Re 0.92 per equity share for the financial year 2023-24.
6. What is Hindustan Copper’s plan regarding non-convertible debentures or bonds?
The company’s board has proposed to seek approval from shareholders to issue and allot secured or unsecured non-convertible debentures or bonds on a private placement basis, up to Rs 500 crore. This is aimed at raising funds for the company’s operational and expansion needs.
7. What are Hindustan Copper’s principal activities?
Hindustan Copper (HCL) is involved in the exploration, exploitation, and mining of copper and copper ore. The company also engages in the beneficiation of minerals, smelting, and refining of copper.
8. How did Hindustan Copper’s stock perform recently?
As of 24 May 2024, Hindustan Copper’s share price fell by 0.75%, closing at Rs 371.40. This reflects the market’s reaction to the company’s latest financial results and other announcements.
9. Why did Hindustan Copper’s net profit decrease in Q4 FY24 despite an increase in revenue?
The decrease in net profit for Q4 FY24, despite an increase in revenue, can be attributed to higher costs of materials consumed. Additionally, while total expenses declined, specific factors such as fluctuations in operational costs and other financial metrics influenced the overall net profit.
10. What is the outlook for Hindustan Copper in the coming financial year?
Hindustan Copper is focused on continuing its growth trajectory by exploring new opportunities in copper mining and refining, improving operational efficiencies, and maintaining financial stability through strategic financial planning, including the potential issuance of non-convertible debentures or bonds. The recommended dividend also indicates a positive outlook for shareholder returns.
Disclaimer
The information provided on www.stockpulsdailynews.com is for informational purposes only and does not constitute financial advice. Stock trading is inherently risky, and users agree to assume full responsibility for their trading decisions, including any loss of capital. While we strive for accuracy, we do not guarantee the completeness or reliability of the information presented.
Users should conduct their own research and consult with a qualified financial advisor before making any investment decisions. www.stockpulsdailynews.com disclaims all warranties and is not liable for any damages arising from the use of this website. By using this site, you agree to these terms.
For any question, please contact us