Financial Profile (Provisional)

FINANCIAL PROFILE: During the year 2017-18,HGML's Gold production was 1.64 tonnes of gold with a corporate turn over of Rs:43,703.28 lakhs the paid-up share capital of HGML as on march 31st 2018 is Rs 296.20 lakhs.The Government of karnataka and other government companies hold 98.81% paid-up capital of HGML,which earned a profit of Rs. 4168.91 lakhs(before tax) for the year ended march 31st,2018.

Highlights of the year ended 31st March 2018:

  • The quantity of ore milled/treated was 568692 MTs as against to 569087 MTs in FY 2016-17,marginal decrease of 395 MT.
  • The quantity of gold produced was 1638.16 kgs as against to 1579.72 kgs, in FY 2016-17, with an increase of 58.44 kgs (3.70%).
  • The turnover/sale of Gold & Silver aggregated to Rs.37620.11 lakhs as against to Rs.41588.12 lakhs in FY 2016-17, with a decrease of 3968.01 lakhs (9.54%).
  • The Wind energy generated and sold was 2.24cr.Kwh as against to 2.77cr.Kwh in FY 2016-17,reduction of 53akhs Kwh(19.13%).Consequently, the turnover on sale of wind energy was Rs. 760.56 lakhs as against to 942.74 lakhs in FY 2016-17. The rate per kwh was Rs.3.40 as in the last year. The reduction in energy generation was on account of frequent break downs wind generators coupled with low wind velocity.
  • The Earning before interest,Depreciation & Tax(EBIDT) amounted to Rs.7022.09 lakhs as against to Rs.6994.24 lakhs in FY 2016-17, increase of Rs.27.85 lakhs (0.40%)
  • The net profit after tax was Rs.3043.17 lakhs. (Total Comprehensive Income Rs. 3470.81 Lakhs) compared to Rs.3156.85 lakhs (Total Comprahensive Income Rs. 3077.09 Lakhs) in previous year, reduction of 3.60%.