Production of Manganese Increased to 3.37 Lakh Tonnes.
“The MOIL was geared up to register much better performance in the coming months” Shri Ajit Kumar Saxena, CMD MOIL said. The company has ambitious vision of almost doubling its production to 3.00 million tonnes by 2030. MOIL is also exploring business opportunities in the State of Gujarat, Rajasthan and Odisha besides other areas in the State of Madhya Pradesh.
In the third quarter MOIL has registered the profit after tax (PAT) at Rs. 39.52 crore was higher by 45% than 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 crore to 302 crore 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 up to the beginning of the third quarter.
MOIL Limited is a Schedule-A, Miniratna category-1 CPSE under the administrative control of Ministry of Steel, Government of India. MOIL is the largest producer of manganese ore in the country with a market share of 45%, operating eleven mines in the state of Maharashtra and Madhya Pradesh.
