(Corrects paragraph 2 to say year ago profit was 38 cents, not $38)
Oct 23 (Reuters) - Freeport McMoRan Inc reported a third-quarter loss on Wednesday as copper production was hit by lower output at its Peru mine and its move to underground mining at its giant Grasberg mine in Indonesia.
The company reported a net loss of $131 million, or 9 cents per share, compared with a profit of $556 million, or 38 cents per share, a year earlier.
Excluding items, the company posted a loss of 1 cent per share.
Copper production fell to 864 million pounds from 1 billion pounds a year earlier. (Reporting by Arundhati Sarkar in Bengaluru; Editing by Anil D'Silva)