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Even though Hindustan Copper Ltd recommenced underground mining at Surda in Jharkhand in June this year and could produce 712 tonnes of copper concentrate from it during the July-September quarter, the public sector company’s total income in the quarter decreased to Rs 216.31 crore from Rs 237.62 crore in the corresponding quarter last fiscal.
The company's net profit during the second quarter also dipped to Rs 7.41 crore from Rs 17.21 crore in the same period a year ago.
The company has not mentioned the reason for the dip in its second quarter performance parameters.
The Directors Report of HCL for 2014-15 had, however, attributed the poor performance to stoppage of operations at Surda mine by the Jharkhand Government, fall in the prices of copper on the London Metal Exchange and 21 per cent fall in copper ore grade at its Malanjkhand (Madhya Pradesh) open cast mine.
Meanwhile, Indian Resources Ltd, the mine operator at Surda, said replacement of new equipment (loaders) with old ones was expected to improve production at the mine.
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