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Hindustan Copper Ltd said in the first quarter to June 30 it improved its performance on the mining front. Production of metal from mines increased by 23 per cent vis-à-vis the same quarter of the last financial year.
However, owing to the planned shutdown of its smelter plant at Ghatsila in Jharkhand, sales and net profit were down, the PSU explained in a note today.
On Monday, the listed company had announced its Q1 numbers to the stock exchanges without explanations. It undertook a major overhaul during May and June for which the company was shut down, it said.
The plant has since restarted and production levels have assumed normality. The company said it had taken steps to smelt the accumulated inventory of copper concentrates. This was expected to be completed by the end of this month.
>jayanta.mallick@thehindu.co.in
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