State-run Hindustan Copper Ltd., in which the government holds a 66.14% stake at the end of the June quarter reported quarterly earnings for the April-June period to which the stock will react on Tuesday.

For the June quarter, Hindustan Copper’s net profit surged to ₹113 crore from ₹47 crore last year. This, despite higher employee expenses, power and fuel costs and lower other income.

The bottomline was aided by an increase in revenue, which grew by 33% from the same period last year to ₹493.6 crore.

However, on a sequential basis, both revenue and net profit are down from levels of ₹565 crore and ₹124 crore respectively.

Hindustan Copper’s Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased to ₹188.3 crore from ₹83.2 crore. The EBITDA figure was also down from ₹208 crore that the company reported in the March quarter.

EBITDA margin expanded to 38.2% from 22.4% last year and 36.8% in the March quarter.

Shares of Hindustan Copper ended little changed on Monday at ₹302.8. The stock has already corrected 27% from its record high level of ₹415 it had made in May this year. The stock is still up 11.5% so far in 2024.