Suspension of mining and blasting continues to hit the operations at the Chanderia unit of Birla Corporation Ltd, the company said on Friday.
In its notes to the quarterly results, the company said: “…Mining operations at Chanderia unit had remained suspended since August 20, 2011, severely affecting the workings of the unit. In its order dated May 25, 2012, the (Jodhpur) High Court has prohibited mining and blasting within 10 km from the wall of Chittaurgarh Fort and has ruled that mining leases granted in such area be cancelled.”
The company’s Special Leave Petition is lying before the Apex Court. The company proposed an interim dividend of 25 per cent. It posted a net profit of Rs 80.24 crore for the quarter ended September 30, 2012, compared with Rs 26.15 crore in the year-ago period. The company’s share on the BSE closed at Rs 269.95, 1.94 per cent down.
Keywords: Birla Corp financial performance,