On 31st January 2023, the Board of Directors of MOIL approved financial results for the quarter and nine months ended on 31st December 2022. In the third quarter, profit after tax (PAT) at ₹39.52 crore was higher by 45% than the second quarter of FY23. 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 FY23. Revenue from operation has shown improvements of 28% from ₹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 ₹3 per shares for FY23 on the face value of ₹10 each, amounting to total ₹61.05 crore.
“The company was geared up to register much better performance in the coming months” Ajit Kumar Saxena, CMD, MOIL said.
