MOIL Q2 Profit Jumps 2x to Rs 61.52 Crore
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.
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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