MOIL Ltd is the largest manganese ore producer in the country. It is essentially engaged in mining of manganese ore and is a miniratna state-owned company owned by the Government of India.
Financial Results:
Compared to the second quarter of the fiscal year 2023, MOIL Ltd’s Profit After Tax (PAT) was higher by 45 per cent and stood at INR 39.52 crore. By generating 3.37 lakh tonnes as opposed to 2.41 lakh tonnes of manganese within the same period, the company has experienced a 40% growth.
Additionally, the sales of manganese ore also increased by 44 percent from 2.06 lakh tonne to 2.97 lakh tonne as compared to Q2 of the fiscal year 2023. During the period of nine months, an increase of 5% from 8.57 lakh tonnes to 9 lakh was experienced in the production of the ore.
Furthermore, the company recorded a 28% increase in revenue from the operation from INR 236 crore to Rs 302 crore in the second quarter of FY23.
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