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Hindustan Copper Limited (HCL), a public sector unit of the Ministry of Mines achieved sales turnover of Rs.121.36 crore during the quarter July to September, 2004 and Rs.142.03 crore during the quarter ending in December against MoU targets of Rs.69.65 crore and Rs.116.69 crore respectively. The company earned net profit of Rs.11.40 crore and Rs.19.01 crore respectively during these two quarters. This financial performance of the company was possible because of favourable LME price and various measures initiated by the company towards nationalization of operations and expenditure reduction. This information was given by the CMD, HCL, Shri Rana Som in a performance review meeting taken by the Mines Secretary, Shri C. D. Arha.
Shri Arha asked the company to improve its performance further by increasing production and productivity. He suggested to make a detailed study in respect of idle capacity vis-à-vis cost of import of concentrate along with cost benefit analysis. He asked the company to dispose of its idle assets to improve its financial status.
DS/SCH
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