The company has achieved production of 11.80 lakh tonnes of manganese ore during the first eight months of CY25 (April – November 2024), registering a growth of 8.46% compared to the same period last year.
The company has achieved sales of 1.33 lakh tonnes of manganese ore in November 2024, up 32% YoY. Sales figures for the April-Nov period stood at 9.90 lakh tonnes, up 4.76% YoY.
Giving utmost thrust to exploration, the company has carried out exploratory core drilling of 63,654 meters upto November, 2024 which is 1.28 times over previous year.
Ajit Kumar Saxena, CMD MOIL, mentioned that it is heartening that the company has continued the momentum of upward performance both in production and sales. He further added that MOIL team is geared up to register yet another successful financial year.
MOIL is engaged in the exploration, exploitation and marketing of manganese ore and products, such as electrolytic manganese dioxide and high carbon ferro manganese alloy. The Government of India held 64.68% stake in MOIL as on 30 September 2024.
The company's standalone net profit declined 18.8% to Rs 49.96 crore on 16% slide in net sales to Rs 291.89 crore in Q2 FY25 over Q2 FY24.