MOIL Reports 70% Surge in Quarterly Profits Nagpur-based Miniratna public sector unit Manganese Ore India Limited (MOIL) reported a significant increase in its profit after tax (PAT) for the first quarter of the fiscal year, marking a 70% jump compared to the same period last year. This growth is described as one of the most substantial in the company’s recent history. MOIL, which operates as the largest manganese ore producer in India, manages both underground and opencast mining operations across Maharashtra and Madhya Pradesh. The company’s PAT for the quarter reached 87.62 crore rupees, up from 51.51 crore in the corresponding quarter of the previous fiscal year. Profit before tax also saw a notable rise, increasing by 75% to 111.6 crore rupees, compared to 63.82 crore in the prior period. These figures were accompanied by a 7% growth in revenue from operations, which totaled 370.88 crore rupees. Total revenue, including non-operational income, amounted to 391.13 crore rupees. MOIL’s manganese ore production showed a 1% increase in volume, reaching 5,07,605 metric tons during the quarter. This compared to 3,69,049 metric tons in the same period last year. Sales volume also rose by 4%, reflecting improved market demand. The company attributed these gains to operational efficiencies and favorable market conditions. As a key player in India’s manganese industry, MOIL’s performance highlights its role in meeting domestic and international demand for the metal, which is essential for steel production and other industrial applications. The results underscore the company’s ability to navigate challenges such as fluctuating commodity prices and supply chain dynamics while maintaining strong financial performance.#maharashtra #mining_operations #madhya_pradesh #moil #manganese_ore_india_limited
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