Lloyds Metals and Energy reported a 166% surge in quarterly net profit driven by record iron ore production, strategic shift into copper and renewable energy projects, signalling its ambition for faster growth and diversification.
Lloyds Metals and Energy said consolidated net profit for the June quarter jumped 166% from a year earlier to ₹1,734 crore, helped by a sharp rise in revenue as output across its mining and processing businesses improved. Revenue from operations climbed 208% to ₹7,354 crore from ₹2,384 crore a year ago, while total income rose to ₹7,483 crore. The company’s profit before tax increased to ₹2,405 crore, compared with ₹787.3 crore in the same quarter last year.
The results also showed a strong sequential rise from the March quarter. Net profit was up 13.3% from ₹1,530 crore, and revenue increased 22.2% from ₹6,020 crore. Total expenses rose to ₹5,110 crore from ₹1,624 crore a year earlier, while finance costs and depreciation also moved higher from the previous quarter. Basic earnings per share increased to ₹30.68 from ₹12.46, and diluted EPS rose to ₹30.38 from ₹11.59.
Operationally, the company reported record iron ore production of 6.05 million tonnes in the quarter, a 53% increase year on year, putting it on track for its 26 million-tonne target for FY27, according to company updates reported by BusinessUpturn and Scanx. Direct reduced iron production rose 131% to 182,000 tonnes, while pellet output reached 1.7 million tonnes. Segment revenue was led by mining at ₹3,503 crore, followed by steel and related value-added products at ₹2,269 crore, MDO operations and related services at ₹2,762 crore and copper and related products at ₹444.3 crore.
The quarterly numbers come after a strong FY26, when the company reported revenue of ₹17,113 crore and consolidated profit after tax of ₹3,829 crore. Lloyds Metals has also been signalling a broader shift beyond iron ore, with Mint reporting that it is building a copper business aimed at 100,000 tonnes of output over five years. In the same vein, the board approved investments in renewable wind and solar projects under a group captive structure and cleared up to ₹625 crore for subsidiary Thriveni Earthmovers and Infra Private Limited through a rights issue or other capital infusion.
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