Hindustan Copper shares jump 6% after profits grow two-fold in Q1 earnings

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Hindustan Copper’s stock rose up to 5.6 per cent at Rs 319.65 a piece on the BSE in Tuesday’s intraday deals. The stock price soared after the company on Monday reported its April-June quarter of financial year 2024-25 (Q1FY25).

State-owned Hindustan Copper Ltd reported a two-fold increase in consolidated net profit, reaching Rs 113.40 crore for the quarter ending June 30, 2024, which represents a 139.9 per cent increase from Rs 47.28 crore in the same period last year. 

The company's total consolidated income for the April-June quarter rose to Rs 500.44 crore, up 30.0 per cent from Rs 384.73 crore in the previous year. 

Hindustan Copper’s total expenses also surged by 7.4 per cent YoY to Rs 346 crore in Q1FY25 versus Rs 322 crore in the same quarter last year. 

The copper firm has a total market capitalisation of Rs 30,301 crore. The company is presently trading at a price to earnings multiple of 99.09 times, while trading at an earning per share (EPS) of Rs 3.05.

The share price of the company has zoomed 15.10 per cent year to date, while rallying 105.05 per cent in the last one year

At 01:09 PM; the stock price of the company was trading 3.98 per cent higher at Rs 314.75 per share on the BSE. By comparison the BSE Sensex slipped by 0.44 per cent at 79,294 levels.

Hindustan Copper, a Miniratna Category-1 company, is a Central Public Sector Undertaking (CPSE) under the Ministry of Mines, Government of India. The company is involved in the exploration, exploitation, and mining of copper and copper ore, including the beneficiation of minerals, smelting, and refining. 

It operates copper mines and concentrator plants at the Malanjkhand Copper Project in Madhya Pradesh, the Khetri Copper Complex in Rajasthan, and the Indian Copper Complex in Ghatsila, Jharkhand.

It is the only vertically integrated producer of primary refined copper in India. The company markets products such as copper cathodes, copper wire bars, continuous cast copper rods, as well as by-products including anode slime (containing gold and silver), copper sulphate, and sulphuric acid.