Kolkata, May 30: State-run copper maker Hindustan Copper Ltd on Monday stated that it has posted a net profit of Rs 16.29 crore for the quarter ended Mar 31, 2016.

Its complete revenue from operation stood at Rs 326 crore within the quarter underneath evaluate whereas its complete bills was at Rs 319 crore.

The corporate posted a net profit of Rs 43.56 crore in 2015-16 whereas its earnings clocked at Rs 969 crore and whole bills had been at Rs 970.71 crore.

“The Board accorded its approval to kind a Joint Enterprise Firm with Chhattisgarh Mineral Development Company Limited (CMDC),a Chhattisgarh State Public Sector Undertaking, for exploration, mining and beneficiation of copper and its related minerals within the state of Chhattisgarh,” it stated in a submitting to BSE.

The corporate mentioned in giving impact to the wage settlement between firm administration and workmen union, as estimated provision of Rs 33.55 crore has been made relating to wage revision of workmen in the course of the 12 months.