New Delhi, July 29 (IANS) Public sector manganese ore major MOIL on Wednesday reported a 70 per cent increase in net profit to Rs 87.62 crore for the first quarter of the current financial year compared to the corresponding figure of Rs 51.51 crore for the same quarter of the previous financial year.
The mining company’s profit before tax for the April to June quarter (Q1) registered a 70 per cent rise to Rs 87.62 crore, up from Rs 51.51 crore in the first quarter of financial year 2025-26.
MOIL also clocked a 7 per cent increase in revenue from operations to Rs 370.88 crore during the first quarter, up from Rs 348.06 crore in the same quarter of the previous financial year.
The company’s total revenue rose by 6 per cent to Rs 391.13 crore during the quarter compared to Rs 370.52 crore in the year-ago period.
The net sales realisation of the government-owned company reached Rs 9,749 per metric tonne (MT), reflecting a 10 per cent gain over Rs 8,884 per MT in the corresponding previous quarter.
Manganese ore production stood at 507,605 metric tonnes during the quarter, marking a 1 per cent increase over the corresponding figure of 502,260 MT recorded in Q1 FY26.
Manganese ore sales of the public sector company touched 369,049 MT, up by 4 per cent from 356,196 MT in the same period last year.
“The Board of Directors of MOIL Limited on Wednesday approved the financial and operational results for the first quarter of FY 2026-27. The company recorded steady growth across production, sales volume, and overall profitability,” according to a press statement issued by the company.
“These results reflect the dedication and hard work of our entire workforce. The operational discipline and commitment shown by our team have enabled the company to maintain growth across key metrics. As we move forward, MOIL remains focused on achieving higher production targets, improving operational efficiency, and meeting the growing requirements of the domestic steel industry,” the company said.
MOIL Limited is a Schedule ‘A’ Miniratna Category-I Central Public Sector Enterprise under the Ministry of Steel. It is the largest producer of manganese ore in the country, operating underground and open-cast mines across Maharashtra and Madhya Pradesh.
–IANS
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