MOIL Q2 Profit Jumps 2x to Rs 61.52 Crore
Nov 08, 2023 15:00
MOIL's net profit surged over 200% in Q2 FY24, reaching Rs 61.52 crore, driven by increased income. The company, under the Ministry of Steel, supplies 46% of India's manganese ore needs.
New Delhi, Nov 8 (PTI) State-owned MOIL on Wednesday posted an over two-fold growth in its net profit to Rs 61.52 crore for the September quarter, helped by higher income.
It had clocked Rs 27.34 crore net profit in the year-ago period, the company said in a regulatory filing.
Total income rose to Rs 368 crore, over Rs 256.82 crore in the same quarter a year ago.
The company's expenses stood at Rs 286.43 crore, as against Rs 229.82 crore in the year-ago quarter.
MOIL, under the Ministry of Steel, meets about 46 per cent of the total requirement of dioxide ore in the country.
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