HomeSteel & CommoditiesMOIL Q-3 profit increases by 45%

MOIL Q-3 profit increases by 45%

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The Q3 results of MOIL were announced recently wherein it reported a profit after tax (PAT) at Rs. 39.52 crore which was higher by 45% than the second quarter of FY’23.

The company has produced 3.37 lakh tonnes as against 2.41 lakh tonnes of manganese registering growth of 40% during the same period. Sales of manganese ore also increased by 44% from 2.06 to 2.97 lakh tonnes in comparison to the second quarter of FY’23. Revenue from operation has shown improvements of 28% from Rs. 236 crore to 302 crore during the same period.

During the nine months’ period, the production has increased by 5% from 8.57 to 9.00 lakh tonnes despite extended rainy season up to the beginning of the third quarter.

MOIL Board has also declared interim dividend of Rs. 3.00 per shares for FY’23 on the face value of Rs. 10.00 each, amounting to total Rs. 61.05 crore.

“The company has geared up to register much better performance in the coming months” Mr. Ajit Kumar Saxena, CMD MOIL said.

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