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Jiangxi Copper posts 9.64% drop in net profit for Q1

Apr. 26, 2012 (China Knowledge) - Jiangxi Copper Co Ltd<600362><0358>, the largest copper producer in China in terms of output, announced yesterday that its net profit fell 9.64% year on year to RMB 1.43 billion in the first quarter of this year.
Jiangxi Copper's operating revenue was RMB 28.78 billion in the first three months, 14.19% more than in the same period of 2011.

The company booked RMB 120 million in investment income in the period, reflecting a robust growth of 441.81% year on year.

The copper producer earlier reported a net profit of RMB 6.55 billion for 2011, 33.47% more than in the previous year. Operating revenue soared 53.9% year on year to RMB 117.64 billion last year.

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