Hindustan Copper shares rose 5% on strong numbers, fund raising plan

Shares of Hindustan Copper Limited added 5.2% intraday today, on its fund raising plan and strong Q4 reporting. The net profit of the company has increased to Rs 40.8 Cr, in the quarter ended March 2017 versus Rs 0.6 Cr, in the corresponding quarter last financial year. Company’s revenue was up 61.3 % at Rs 571.8 Cr, against Rs 354.4 Cr,.

The operating profit was up 158% at Rs 63.00 Cr, and profit margin was up 410 bps at 11%. The company on May 17, has recommended issue of fresh equity shares via FPO or IIP / QIP or a combination of 9.25 Cr, equity shares. It has recommended payment of dividend for 2016-17 fiscal at 20 paise /share for approval of shareholders in the next Meeting (AGM) of the company.

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