Hindustan Copper gains after robust Q4 earnings

Shares of Hindustan Copper were up 2% at Rs 99.40 after the compay reported robust net profit growth in the fourth quarter earnings despite decrease in total income.

Hindustan Copper reported 37% rise in net profit at Rs 188 crore for the fourth quarter ended March 31, against net profit of Rs 137.43 crore in the same quarter last year, the company said in a release after market hours on Thursday.

Total income for the fourth quarter decreased to Rs 415 crore from Rs 686.70 crore in the corresponding quarter year-ago.

For the year ended March 31, 2013, net profit increased to Rs 355.64 crore, from Rs 323.47 crore last fiscal. Income during the year was down to Rs 1,323.14 crore from Rs 1,487.56 crore last fiscal.

Over 350,000 shares were traded on both the stock exchanges so far.