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State-owned Hindustan Copper Limited's consolidated net profit surged 162.5 per cent year-on-year to Rs 352.37 crore in the April-June quarter of the financial year 2026-27, driven by strong growth in revenue, according to the company's stock exchange filing on Monday.
The copper producer had reported a consolidated net profit of Rs 134.25 crore in the corresponding quarter of the previous financial year. Revenue from operations increased 81.4 per cent to Rs 936.50 crore during the quarter under review, compared with Rs 516.37 crore in the year-ago period. Total income similarly rose to Rs 953.60 crore from Rs 526.65 crore. Profit before tax more than doubled to Rs 471.77 crore in the June quarter from Rs 179.36 crore recorded in the same period last year, reflecting a sharper rise in earnings compared with revenue growth. The company's total expenses increased to Rs 481.83 crore during the quarter from Rs 347.29 crore a year earlier. However, the increase in expenses was significantly lower than the growth in revenue, supporting the sharp rise in profitability. On a sequential basis, the company's performance moderated from the January-March quarter. Revenue from operations declined from Rs 1,156.08 crore in the March quarter, while consolidated net profit fell from Rs 444.27 crore. Earnings per share rose to Rs 3.64 during the June quarter from Rs 1.39 in the corresponding period last year. Hindustan Copper said its Board of Directors considered and approved the unaudited standalone and consolidated financial results at a meeting held on August 10. The statutory auditors conducted a limited review of the results. The auditors also noted that the company has not had the required independent directors since November 3, 2024, and could not validly constitute its Audit Committee. Consequently, the quarterly financial results were approved directly by the Board. The report further said the company has not had a woman director since March 22, 2025, as required under the Companies Act. The auditors, however, did not modify their conclusion on the financial results over these matters. Hindustan Copper is engaged primarily in mining and processing copper ore into copper concentrate and also has facilities for manufacturing continuous copper wire rods. (ANI)
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