MOIL registers record monthly production in Dec'23

Continuing with its stellar performance, MOIL achieved best ever monthly production of Manganese (Mn) ore and registered production of 1.85 lakh MT in December, 2023, which is 31% higher y-o-y.

In the current FY upto December, 2023 also, the company has registered a remarkable growth of 41% y-o-y, with production of 12.73 lakh MT of manganese ore.

On the sales front too, the company continued to scale impressive growth of 40% during first nine months of FY'24 with sales of 11.01 lakh MT of manganese ore.

The company has been giving utmost thrust to exploration. In December, 2023 itself, MOIL accomplished core drilling spanning 11,482 meters, which is also best ever monthly core drilling carried out by the company since its inception. During Apr-Dec, 2023 period, MOIL has carried out core drilling of 60,870 meters which is more than double y-o-y.

Shri Ajit Kumar Saxena, CMD, addressed a large gathering of company's employees on 1st January, 2024 and congratulated them for their concerted efforts, resulting in this performance. The workforce reposed full faith that this growth will be maintained and also gave suggestions for further improvement.

Shares of MOIL Limited was last trading in BSE at Rs. 315.70 as compared to the previous close of Rs. 313.50. The total number of shares traded during the day was 209290 in over 4618 trades.

The stock hit an intraday high of Rs. 319.00 and intraday low of 304.00. The net turnover during the day was Rs. 65235661.00.

Source : Equity Bulls

Keywords

MOIL INE490G01020 Mining Production December2023