The industrial mineral maker achieved best ever Q3 sales of 3.88 lakh tonnes in Oct-Dec 2024, higher by 13% over corresponding period of last year (CPLY).
During 9M FY25, MOIL registered production of 13.3 lakh tonnes, higher by about 4.5% YoY. and sales of 11.39 lakh tonnes, higher by 3.5% YoY.
The company has carried out exploratory core drilling of 72,340 meters up to December 2024, which is higher by 19% over the previous year.
Ajit Kumar Saxena, CMD MOIL, expressed satisfaction over the performance and was confident that the company will maintain the growth momentum.
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 a 64.68% stake in MOIL as of September 30, 2024.
The company's standalone net profit declined 18.8% to Rs 49.96 crore on a 16% slide in net sales to Rs 291.89 crore in Q2 FY25 over Q2 FY24.