MOIL recorded 32% growth in profit

Highlights of performance during first nine months of FY’25 include

Recorded an impressive 32% jump in the PAT at Rs. 361.55 crore over corresponding period last year (CPLY), Revenue from operation during period was Rs. 1151.55 crore, which was 11% higher over CPLY, Achieved production of 13.30 lakh MT of manganese ore registering a growth of 5% y-o-y, Registered sales of 11.39 lakh MT of manganese ore with a growth of 4% y-o-y, Continuing its thrust to exploration, MOIL has completed 72350 meters of exploratory core drilling during April-December, 2024, which is higher by 19% over CPLY.

The Board also approved payment of interim dividend of Rs. 4.02 per share for the FY’25, exceeding by about 15% over last previous year’s interim dividend of Rs. 3.50 per share.

Besides, the Board also approved five shafts sinking projects including two ventilation shafts for its Dongri Buzurg Mine, Chikla Mine and Kandri Mine worth of Rs. 886 crore (approximate). These shafts will help the company to sustain as well as increase its existing production level in the coming years.

Ajit Kumar Saxena, CMD MOIL, mentioned that it is heartening that the company has continued the momentum of upward performance both in physical as well as financial performance. He reposed full confidence that improved levels of performance will be maintained.