MOIL profit increases by 55% in Q-3 vis-à-vis Q-2 of FY'23

On 31st January, 2023, the Board of Directors of MOIL approved financial results for the quarter and nine months ended on 31st December, 2022.

In the third quarter, profit after tax (PAT) at Rs. 39.52 crores was higher by 45% then the second quarter of FY'23. The company has produced 3.37 lakh tonnes as against 2.41 lakh tonnes of manganese registering growth of 40% during the same period. Sales of manganese ore also increased by 44% from 2.06 to 2.97 lakh tonnes in comparison to the second quarter of FY'23. Revenue from operation has shown improvements of 28% from Rs. 236 crores to 302 crores during the same period.

During the nine months' period, the production has increased by 5% from 8.57 to 9.00 lakh tonnes despite extended rainy season upto the beginning of the third quarter.

MOIL Board has also declared interim dividend of Rs. 3.00 per shares for FY'23 on the face value of Rs. 10.00 each, amounting to total Rs. 61.05 crores.

On this occasion, Shri Ajit Kumar Saxena, CMD MOIL, mentioned that the company was geared up to register much better performance in the coming months.

Shares of MOIL Limited was last trading in BSE at Rs. 163.00 as compared to the previous close of Rs. 165.40. The total number of shares traded during the day was 14043 in over 736 trades.

The stock hit an intraday high of Rs. 167.65 and intraday low of 162.25. The net turnover during the day was Rs. 2316455.00.

Source : Equity Bulls

Keywords

MOIL INE490G01020 Mining Q3FY23 ResultUpdate 9MFY23