New Delhi, May 24 (PTI) State-owned Hindustan Copper Ltd on Friday reported a 6 per cent drop in consolidated net profit to Rs 124.33 crore for the March quarter.

The company had posted a consolidated net profit of Rs 132.31 crore in the year-ago period.

Also Read | Lok Sabha Elections 2024: How To Vote, Check Name in Voter List and Download Voter Slip Online? How To Find Polling Station? Know Everything Here Ahead of Phase 6 Polling on May 25.

The consolidated income during the January-March period dropped to Rs 585.22 crore over Rs 611.37 crore in the year-ago period.

"The company has achieved a profit before tax of Rs 183.29 crore in the quarter ended March 2024, which is a whopping 123 per cent higher than the immediately preceding quarter," Hindustan Copper said in a statement.

Also Read | Bhubaneswar Lok Sabha Election 2024: This Parliamentary Seat of Odisha Set to Witness Triangular Contest Between Heavyweights of BJP, Congress and BJD in Sixth Phase of LS Polls.

"The board has recommended a dividend of 30.11 per cent of PAT for 2023-2024. The payout on this account is estimated to be Rs 88.97 crore to the shareholders of the company," it said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)