Hindustan Copper’s Dividend Announcement and Quarterly Performance Unveiled
As the earnings season unfolds, state-owned Hindustan Copper Ltd revealed its financial performance for the fourth quarter ending March 31, 2024, on Friday, May 24, 2024. Alongside its Q4 FY results, the PSU metal stock, priced under Rs 400, also declared dividends for its shareholders.
Hindustan Copper Dividend 2024:
The Board of Hindustan Copper has proposed a dividend payment of Re 0.92 per share, with a face value of Rs 5 each, for the financial year 2023-24.
“The Board recommended payment of dividend for the financial year 2023-24 @ Re. 0.92 per share of the face value of Rs.5 each for approval of shareholders in the forthcoming Annual General Meeting (AGM) of the Company,” stated the PSU in an exchange filing yesterday.
Hindustan Copper Dividend 2024 Payment Date:
The exact date of dividend distribution will be communicated subsequent to approval during the AGM, the company noted.
Hindustan Copper Q4 Results: Quarterly Earnings Highlights:
Hindustan Copper reported a 6% decrease in consolidated net profit, amounting to Rs 124.33 crore for the January-March quarter. This figure stood at Rs 132.31 crore during the same period last year. However, there was a significant quarterly increase of 98%, reaching Rs 63 crore in Q3 FY24.
The consolidated income during the January-March period decreased to Rs 585.22 crore compared to Rs 611.37 crore in the year-ago period. Nevertheless, revenue for the quarter surged by 41.6% against Rs 399 crore in Q4 FY24.
EBITDA witnessed a substantial growth of 112% in the reviewed quarter, reaching Rs 226 crore compared to Rs 107 in the previous quarter. EBITDA margins stood at 40% in Q4 FY24 against 26.7% in the last quarter.
Hindustan Copper Share Price:
On Friday, shares of Hindustan Copper closed at Rs 371.40, marking a 0.75% decline from the previous close of Rs 374.20, according to BSE. The stock opened at Rs 374.80, touching an intra-day high of Rs 382 and a low of Rs 370.20.
Hindustan Copper Share Price History:
Hindustan Copper’s shares experienced a 3.31% and 2.15% decline in the last one week and one month, respectively, as per BSE analytics. However, they soared by 41.32% in the last three months, an impressive 126.46% in the last six months, effectively doubling investors’ money, and a remarkable 263.23% over the past year.