Hindustan Copper shares zoom over 5% after Q1 net profit more than doubles to ₹113 crore

Shares of Hindustan Copper Ltd rallied as much as 5.53% to touch an intraday high of ₹319.5 apiece on the NSE, following more than two times rise in net profit in the June quarter.

The Ministry of Mines public sector undertaking (PSU) announced its Q1 results after market hours on Monday, August 12. The company reported a 140% year-on-year rise in consolidated net profit at ₹113.4 crore compared to ₹47.28 crore in the same quarter a year ago. Its revenue from operations rose 33% YoY to ₹493.6 crore in Q1FY25 from ₹370.94 crore in Q1FY24.

The PSU’s EBITDA (Earnings before interest, tax, depreciation and amortisation) stood at ₹38.05 crore in the June quarter against ₹40.73 crore in the corresponding period a year ago.

On a quarter-on-quarter (QoQ) basis, the leading copper producer’s revenue from operations dropped 12.7% compared to ₹565.37 crore in the March quarter of FY24. The PSU’s net profit also declined sequentially by 9% against ₹124.75 crore in the previous quarter (Q4FY24).

Hindustan Copper is a leading producer of copper in India and the only company in India engaged in mining copper ore. The public sector company is primarily engaged in the production and marketing of copper concentrate, copper cathodes, continuous cast copper rods, and by-products, such as anode slime, copper sulphate, and sulphuric acid.

Earlier, on July 12, Hindustan Copper informed the bourses that it was expecting to cross its capex target of ₹350 crore during the ongoing financial year.

“HCL is continuously investing in its ongoing mine expansion plan. Although this year, the capex target is ₹350 crore, it is expected that the company may exceed the target like last year,” the company informed the bourses.

Hindustan Copper shares closed 4.1% higher at ₹315.1 apiece on the NSE.