Hindustan Copper Q2 results 2026: profit up 181.9%
Hindustan Copper, a Government of India company that mines copper, reported consolidated revenue from operations of Rs 1,175.24 crore and net profit of Rs 518.13 crore for July to September 2026.
Published 13 November 2026 · Potoos Research Services
The short answer. Revenue rose 63.7% from a year earlier while total expenses rose only 8.3%, so profit rose 181.9%. The board did not declare a dividend. On the same day the company asked BSE and NSE to waive fines of Rs 14,43,140 each over the make-up of its board.
Quarter at a glance
Consolidated figures in Rs crore. Change compares the same quarter a year earlier.
| Measure | Jul-Sep 2026 | Jul-Sep 2025 | Change |
|---|---|---|---|
| Revenue from operations | 1,175.24 | 718.04 | +63.67% |
| Other income | 40.57 | 10.91 | +271.86% |
| Total expenses | 520.38 | 480.32 | +8.34% |
| Profit before tax | 695.43 | 248.63 | +179.70% |
| Net profit after share of joint venture | 518.13 | 183.79 | +181.91% |
Source: Hindustan Copper consolidated financial results, PDF page 11. Percentages are recomputed from the filing figures before rounding.
Consolidated here means Hindustan Copper, its 74% subsidiary Chhattisgarh Copper Limited, and its 30% share of the joint venture Khanij Bidesh India Limited (KABIL). Net profit after share of joint venture includes the company's Rs 1.41 crore share of KABIL's loss this quarter. Standalone profit, for Hindustan Copper alone, was Rs 519.54 crore.
Why did profit rise so much more than revenue?
Revenue grew by Rs 457.20 crore, while total expenses grew by Rs 40.06 crore. Most cost lines moved little. The biggest rise was royalty and cess, payments made to the government on minerals mined, up 87.0% to Rs 99.38 crore. Employee costs fell to Rs 88.55 crore from Rs 92.14 crore. The filing does not say how much of the revenue rise came from copper prices and how much from higher sales volume.
Other income rose to Rs 40.57 crore from Rs 10.91 crore. The quarterly table does not split it. The half-year standalone cash-flow statement shows interest income of Rs 39.12 crore for April to September 2026, against Rs 6.47 crore a year earlier. That figure covers six months, not the quarter alone. The filing does not otherwise explain the rise in other income. Source: standalone cash-flow statement, PDF page 6.
What are the exchange fines?
In a separate letter on 11 November 2026, the company said BSE and NSE had each fined it Rs 14,43,140 for not meeting SEBI listing rules on the make-up of its board and its committees (Regulations 17(1), 17(2A), 18(1), 19(1)/(2), 20(2)/(2A) and 21(2)). These rules require, among other things, a minimum number of independent directors, who are directors with no business ties to the company. The letter says the matter relates to "the quarter ended 30.09.2026", although the notices it cites are dated 25 August 2026; we report the letter as printed.
The company says that, as a Government company, its directors are appointed by the President of India through the Ministry of Mines. It has asked the Ministry to appoint four part-time non-official (independent) directors, and the matter is under consideration. The board discussed the fines at its meeting on 11 November 2026 and advised taking the matter up with the Ministry and the exchanges. The company has asked the exchanges for an exemption from the fines under their Uniform Carve Out Policy. The letter does not say whether the exemption has been granted. Source: Hindustan Copper letter on board comments, 11 November 2026, PDF page 1.
What else did the board approve?
The 11 November outcome letter covers approval of the standalone and consolidated results for the quarter ended 30 September 2026. It does not announce a dividend, bonus, split, share repurchase, fund raise or stake sale.
What the auditor said
P.A. & Associates issued limited review reports with unmodified conclusions. A limited review is a lighter check than a full audit. For the consolidated results, the auditor relied on other auditors' reviews of Chhattisgarh Copper Limited and KABIL. Source: review report on consolidated results, PDF pages 8 to 10.
Sources
- Hindustan Copper outcome of board meeting and unaudited results for the quarter ended 30 September 2026. 11 November 2026. PDF page 1, outcome letter; pages 2 and 3, standalone review report; page 4, standalone results; page 6, standalone cash flow; pages 8 to 10, consolidated review report; page 11, consolidated results and notes.
- Hindustan Copper board comments on notices from BSE and NSE for payment of fine. 11 November 2026. PDF page 1.
Sources checked on 12 November 2026. Information cutoff: 12 November 2026, 21:00 IST
Common questions
Did Hindustan Copper declare a dividend with its Q2 results?
No. The 11 November 2026 outcome letter covers the results only.
Is Rs 518.13 crore standalone or consolidated profit?
It is consolidated net profit after the share of the joint venture's loss. Standalone profit was Rs 519.54 crore.
Will Hindustan Copper pay the exchange fines?
The company has asked BSE and NSE for an exemption. Its 11 November 2026 letter does not say whether the exemption has been granted.
Potoos Research, SEBI-registered Research Analyst. Registration number INH000027380. SEBI is the Securities and Exchange Board of India.