Hindustan Copper reports ~68% y-o-y jumps in Q2 net profit

12 Nov 2024 , 01:16 PM

Hindustan Copper Ltd (HCL) announced a 67.6% year-on-year (YoY) increase in net profit to ₹101.7 Crore for the second quarter ending September 30, 2024.

In the preceding fiscal quarter, Hindustan Copper reported a net profit of ₹60.7 Crore, according to a regulatory filing. Revenue from operations increased by 36% to ₹518.2 Crore, up from ₹381.4 Crore the previous year.

In the second quarter of this fiscal, EBITDA increased by 25.4% to ₹151.9 Crore from ₹121 Crore in the previous quarter.

The EBITDA margin stood at 29.3% in the reporting quarter, compared to 31.8% in the same period of FY24.

The Mines Ministry has administrative jurisdiction over Hindustan Copper Ltd. It is involved in copper mining and holds the complete operational mining lease for copper ore. It is also the only vertically integrated enterprise that produces refined copper.

The company produces and markets copper concentrate, copper cathodes, continuous cast copper rods, and byproducts such as anode slime (including gold, silver, and so on), copper sulphate, and sulphuric acid. 

HCL was formed as a Government of India Enterprise to acquire all plants, projects, schemes, and studies related to the exploration and development of copper reserves from National Mineral Development Corporation Ltd. It is the only firm in India that mines copper ore and owns the whole operating mining lease for copper ore, as well as the only vertically integrated manufacturer of refined copper.

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