Kolkata, May 30 (IANS) State-run copper maker Hindustan Copper Ltd on Monday reported that it has posted a net profit of Rs 16.29 crore for the quarter ended March 31, 2016.
Its total income from operation stood at Rs 326 crore in the quarter under review while its total expenses was at Rs 319 crore.
The company posted a net profit of Rs 43.56 crore in 2015-16 while its income clocked at Rs 969 crore and total expenses were at Rs 970.71 crore.
“The Board accorded its approval to form a Joint Venture Company with Chhattisgarh Mineral Development Corporation Limited (CMDC),a Chhattisgarh State Public Sector Undertaking, for exploration, mining and beneficiation of copper and its associated minerals in the state of Chhattisgarh,” it said in a filing to BSE.
The company said in giving effect to the wage agreement between company management and workmen union, as estimated provision of Rs 33.55 crore has been made regarding wage revision of workmen during the year.