Hindustan Copper's Profit Soars by 67% in Q2 2024

Hindustan Copper Ltd (HCL) reported a 67.4% rise in consolidated net profit to Rs 101.67 crore for Q2 2024, driven by higher operational revenue. The revenue rose to Rs 518.19 crore, compared to Rs 381.40 crore the previous year. HCL focuses on copper mining and is the sole integrated copper producer in India.

State-owned miner Hindustan Copper Ltd (HCL) has reported a significant 67.4% increase in its consolidated net profit, amounting to Rs 101.67 crore for the quarter ending September 30, 2024. This surge in profit is attributed to higher operational revenue, the company announced in a BSE filing on Monday.

In comparison to the previous year's consolidated net profit of Rs 60.70 crore in the same period, the company has shown remarkable growth. During the July to September period, HCL's revenue from operations increased substantially to Rs 518.19 crore, from Rs 381.40 crore recorded in the corresponding quarter of the previous fiscal year.

Hindustan Copper Ltd, operating under the mines ministry, holds the distinction of being the only integrated copper producer in India. The company manages the complete process from mining to marketing of copper concentrate, cathodes, rods, and various by-products. Its current primary focus is on mining and beneficiation, particularly targeting the sale of copper concentrate.

(With inputs from agencies.)