Hindustan Copper Limited (HCL) – a PSU under Ministry of Mines, Government of India declared their annual results for FY 2020-21.
The results have reflected a turnaround story. Inspite of the Covid-19 pandemic, the company has been able to achieve a total income ₹1821.61 crore in FY 2020-21 as compared to ₹888.81 crore in FY 2019-20. The company also achieved a Net profit of ₹109.98 crore this year as against a loss of ₹ 569.21 crore in the FY 2019-20.
The company has been able to declare dividend of a total amount of ₹33.85 crore to be paid in FY 2021-22, as per the guidelines issued by Department of Public Enterprises. HCL has been able to reduce its debt burden resulting in a debt equity ratio of 2.11 reduced from earlier year’s 4.21.
The company has also been continuously supporting the Government initiatives and creating infrastructure required towards mitigation of Covid-19 pandemic nearby its mining units for the local population and for its employees.