Hutti Gold Mines Company Limited , a State-owned company in Hutti village of Lingsugur taluk, has earned its highest profits in 2011-12 since its inception, according to official sources.
According to official sources, the company had processed 5.66 lakh tonnes of ore during 2011-12 and extracted 2,181 kg of gold achieving a net profit of Rs. 188 crore after tax.
In the previous year 2010-11, it had processed 6.2 lakh tonnes of gold ore and extracted 2,220 kg of gold achieving a net profit of Rs. 127 crore.
The company had produced 172.78 kg of gold in February and 172.15 kg in March this year.
The sources said that according to a preliminary audit for 2011-12, the company had achieved a gross profit of Rs. 551.13 crore before tax by selling gold and wind power generated from the Chitradurga wind plant.
The company has registered such a huge profit for the first time in its history, sources said.
Keywords: Hutti gold mines