Q3FY23 results: Net profit of MOIL increases by 55%

New Delhi: State-owned MOIL Ltd released its financial results on January 31, 2023. The company said in a statement on Wednesday that its PAT stood at Rs 39.52 crores which was higher by 45 percent 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 percent during the same period," it added.

"Sales of manganese ore also increased by 44 percent from 2.06 to 2.97 lakh tonnes in comparison to the second quarter of FY23. Revenue from operation has shown improvements of 28 percent from Rs 236 crores to 302 crores during the same period," said the statement.

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"During the nine months' period, the production has increased by five percent from 8.57 to nine lakh tonnes despite extended rainy season upto the beginning of the third quarter.
MOIL Board has also declared interim dividend of Rupees three per shares for FY23 on the face value of Rs 10 each, amounting to total Rs 61.05 crores," said the statement.

On this occasion, Ajit Kumar Saxena, CMD MOIL, mentioned that the company was geared
up to register much better performance in the coming months.

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