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Hindustan Copper pays Rs 74-crore dividend to govt for FY22

Hindustan Copper pays Rs 74-crore dividend to govt for FY22

Hindustan Copper pays Rs 74-crore dividend to govt for FY22
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By Jomy Jos Pullokaran  Oct 27, 2022 7:04:47 PM IST (Published)

Shares of Hindustan Copper Ltd ended at Rs 108.25, up Rs 1.80, or 1.69 percent, on the BSE.

State-owned Hindustan Copper Ltd (HCL) on Thursday said it has paid a dividend of Rs 74.20 crore to the government of India for FY 2021-22.

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"Hindustan Copper Ltd, under the ministry of mines, has paid a dividend of Rs 74.2O crore to the government of India for FY 2O2I-22 being 3O.O1 percent of Profit After Tax (PAT) in compliance of DIPAM Guidelines," the company said in a regulatory filing on October 27.
The total dividend pay-out to all shareholders was Rs 112.17 crore. The dividend per share was the highest-ever declared by the company.
During FY22, the company achieved the highest-ever net turnover of Rs 1,812 crore and profit before tax of Rs 381.76 crore. The company is currently implementing its mine expansion plan to achieve 12.2 million tonnes per annum ore production.
In September 2021, the government sold a 6.35 percent stake in Hindustan Copper Ltd to non-retail bidders. After the transaction, the government's stake in the company declined to 66.40 percent from 72.76 percent earlier.
HCL is a public sector undertaking under the administrative control of the Ministry of Mines. It has the distinction of being the nation’s only vertically-integrated copper producer as it manufactures copper right from the stage of mining to beneficiation, smelting, refining and casting of refined copper metal into downstream saleable products.
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