MOIL reports 22.5% growth in H1 FY27, net profit at Rs 149.39 crore

New Delhi: MOIL Limited, the country's largest manganese ore producer, has reported a 22.5 percent year-on-year increase in standalone net profit at Rs 149.39 crore for the first half of FY 2026-27, compared to Rs 121.94 crore in the corresponding period of the previous financial year.

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The company's revenue from operations increased 8.7 percent to Rs 740.01 crore during April-September 2026, against Rs 680.80 crore in the first half of FY26. Total income rose 5.81 percent to Rs 776.15 crore from Rs 733.54 crore a year earlier.

Profit before tax (PBT) registered a stronger growth of 22.9 percent to Rs 188.75 crore, compared to Rs 153.58 crore in the corresponding period last year.

MOIL also reported an improvement in its operational performance during the first half of FY27. Manganese ore production increased 1.76% to 9.61 lakh tonnes, while sales grew 9.67 percent to 7.78 lakh tonnes compared to the corresponding period of FY26.

For the second quarter ended September 30, the company recorded revenue from operations of Rs 369.13 crore and total income of Rs 385.02 crore. Net profit stood at Rs 61.78 crore, while profit before tax was Rs 77.13 crore.

The Board of Directors, which approved the company's financial and operational results for the second quarter and first half of FY27, also declared a first interim dividend of Rs 2.20 per equity share of Rs 10 each for FY27.

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Commenting on the performance, V. Suresh, Chairman and Managing Director of MOIL, attributed the growth to the efforts of the company's workforce, strategic planning and improved mining practices. He also highlighted the company's focus on its 'Waste to Wealth' initiatives to convert low-grade mining products into higher-value assets.

Suresh said the company would continue exploring new growth opportunities in domestic and international markets, with a focus on mining and downstream value addition.

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