India’s state owned manganese miner MOIL has reported that profit after tax at INR 39.52 crore in October-December 2022 quarter, was higher by 45% than July-September 2022 quarter. Revenue from operation has shown improvements of 28% from INR 236 crore to INR 302 crore during the same period.The company has produced 0.337 million tonnes as against 0.241 million tonnes of manganese registering growth of 40% during the same period. Sales of manganese ore also increased by 44% from 0.206 million tonnes to 0.297 million tonnes in comparison to the second quarter of FY’23. During the nine months’ period, the production has increased by 5% from 0.857 million tonnes to 0.900 million tonnes despite extended rainy season up to the beginning of the third quarter.MOIL Limited is a Schedule-A, Miniratna category-1 CPSE under the administrative control of Ministry of Steel, Government of India. MOIL is the largest producer of manganese ore in the country with a market share of 45%, operating eleven mines in the State of Maharashtra and Madhya Pradesh. The company has ambitious vision of almost doubling its production to 3.00 million tonnes by 2030. MOIL is also exploring business opportunities in the State of Gujarat, Rajasthan and Odisha besides other areas in the State of Madhya Pradesh.
India’s state owned manganese miner MOIL has reported that profit after tax at INR 39.52 crore in October-December 2022 quarter, was higher by 45% than July-September 2022 quarter. Revenue from operation has shown improvements of 28% from INR 236 crore to INR 302 crore during the same period.The company has produced 0.337 million tonnes as against 0.241 million tonnes of manganese registering growth of 40% during the same period. Sales of manganese ore also increased by 44% from 0.206 million tonnes to 0.297 million tonnes in comparison to the second quarter of FY’23. During the nine months’ period, the production has increased by 5% from 0.857 million tonnes to 0.900 million tonnes despite extended rainy season up to the beginning of the third quarter.MOIL Limited is a Schedule-A, Miniratna category-1 CPSE under the administrative control of Ministry of Steel, Government of India. MOIL is the largest producer of manganese ore in the country with a market share of 45%, operating eleven mines in the State of Maharashtra and Madhya Pradesh. The company has ambitious vision of almost doubling its production to 3.00 million tonnes by 2030. MOIL is also exploring business opportunities in the State of Gujarat, Rajasthan and Odisha besides other areas in the State of Madhya Pradesh.
