MOIL New Delhi/IBNS: State-run the Manganese Ore (India) Limited (MOIL) reported a net profit of Rs 123.88 crores for Q3FY22, up 141.11 percent against Rs 51.38 crore during the same quarter last year.
MOIL said this is the highest quarterly profit since FY2019-20.
The schedule ‘A’ CPSE under Ministry of Steel said its net profit for nine months ended December 31, 2021 jumped 305 percent to Rs 245.91 crore against Rs 60.59 crore in previous year.
The board of directors recommended payment of interim dividend @ 30 percent (i.e., Rs. 3.00 per share) for the year 2021-22. The company had paid interim dividend of Rs 2.50 each previous year.
Despite adverse impact of second and third wave of Covid19 affecting the operational activities of the company, MOIL has been able to record excellent performance with better product planning and marketing strategy.
During the said nine months period, the company recorded revenue from operations at Rs 968.41 crores as against Rs 727.26 crores during corresponding period last year.
The company also registered growth of 16 percent in production as production of manganese ore increased from 7.41 lakh tonnes to 8.57 lakh tonnes during the said period.
The company has achieved highest Q3 turnover and total income in last four financial years.
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