Hindustan Copper profit rose 162.47% YoY as margin held above 54%
Revenue fell 18.99% QoQ, but costs fell slightly slower and operating margin remained close to the previous quarter's level.
Filed 10 Aug 2026, 13:25 IST · Hindustan Copper Ltd (HINDCOPPER)
Key takeaways
- Consolidated net profit rose +162.47% YoY, as revenue grew +81.36%.
- Operating margin expanded 13.13 percentage points YoY, while narrowing only 0.10 percentage points QoQ.
- The stock fell -1.98% on results, close to its 1.91% median absolute move across eight prior result reactions.
Price around the results
YoY growth was strong, but Q1 momentum slowed
Hindustan Copper's consolidated revenue grew +81.36% YoY and operating profit rose +139.38%, taking net profit growth to +162.47%. Sequentially, revenue fell -18.99% and net profit declined -20.69% from Q4FY26. The QoQ contraction followed the exceptionally high Q4FY26 base, while the year-on-year comparison remained much stronger.
Margin held near the Q4FY26 peak
Operating margin expanded 13.13 percentage points YoY because expenses grew +40.94%, well below the +81.36% revenue growth. QoQ, expenses declined -18.83%, slightly slower than revenue, so margin narrowed 0.10 percentage points to 54.19%. The margin was 35.23 percentage points above the 18.96% median for 64 reported Commodities peers. Other income contributed 3.58% of pre-tax profit, while the tax rate increased 0.13 percentage points YoY, so the profit growth was not driven by a lower tax rate.
The initial market reaction was broadly ordinary
The stock fell -1.98% on the results date, with volume at 2.39 times the reference level. Across eight prior result reactions, the stock had risen four times and fallen four times, with a median absolute move of 1.91%. The latest decline was therefore close to its recent typical reaction size.
Q1FY27 at a glance
Consolidated figures as filed with NSE — cross-checked against an independent source.
| Line item | Q1FY27 | Q4FY26 | QoQ | YoY |
|---|---|---|---|---|
| Revenue | ₹937 cr | ₹1,156 cr | -18.99% | +81.36% |
| Other income | ₹17 cr | ₹33 cr | -48.74% | +64.49% |
| Expenses | ₹429 cr | ₹529 cr | -18.83% | +40.94% |
| Operating profit | ₹508 cr | ₹628 cr | -19.13% | +139.38% |
| Operating margin (%) | 54.19% | 54.29% | — | — |
| Interest | ₹3 cr | ₹1 cr | +300.00% | +95.12% |
| Depreciation | ₹50 cr | ₹67 cr | -26.17% | +20.25% |
| Profit before tax | ₹472 cr | ₹592 cr | -20.41% | +162.94% |
| Tax | ₹119 cr | ₹148 cr | -19.57% | +164.33% |
| Net profit | ₹352 cr | ₹444 cr | -20.69% | +162.47% |
| EPS (₹) | ₹3.64 | ₹4.59 | -20.70% | +161.87% |
Operating margin of 54.19% compares with a Commodities sector median of 18.96% across 64 peers that have reported Q1FY27.
How the stock reacted
| Window | Stock | vs NIFTY |
|---|---|---|
| Results day | -1.98% | -2.03% |
Volume on the results session was 2.39× its 20-day average.
What to watch
- Whether operating margin remains around 54.19% after the 0.10-percentage-point QoQ decline.
- Whether revenue recovers from the -18.99% QoQ contraction.
- Whether other income stays near 3.58% of pre-tax profit.