MOIL's manganese ore production rises to record 1.68 lakh tonnes in June

New Delhi, July 3 (IANS) India’s largest manganese ore producer MOIL continued its robust growth trajectory with the highest-ever June production of 1.68 lakh tonnes of manganese ore, marking a 2 per cent increase over the corresponding period last year, according to an official statement released on Thursday.

During the April-June quarter of 2025-26, MOIL has registered its best ever quarterly production of 5.02 lakh tonnes, higher by 6.8 per cent over the same period of the previous year.

The government-owned company, which supplies manganese ore as an input for making steel, also achieved its best ever Q1 exploratory core drilling of 34,900 metres, which represents a robust 16.2 per cent increase over the same quarter last year.

Expressing satisfaction over the results, MOIL chairman and managing director Ajit Kumar Saxena said the company’s resounding performance in April-June reflects its strong fundamentals and continued growth outlook.

MOIL reported a 27 per cent increase in consolidated net profit to Rs 115.7 crore for the January-March quarter of financial year 2024-25, compared to Rs 91.1 crore in the corresponding of the previous financial year.

Revenue from operations during the quarter came in at Rs 433.4 crore, registering a 4.2 per cent increase from Rs 415.9 crore a year ago.

Operational performance remained stable, with EBITDA rising 8.7 per cent on-year to Rs 139.4 crore. EBITDA margin expanded to 32.2 per cent from 30.9 per cent in the year-ago period, reflecting improved cost control and firm pricing.

The MOIL board has also approved the payment of an interim dividend of Rs. 4.02 per share for the financial year 2024-25 during the declaration of the Q3 results. This represents a 15 per cent increase over last year’s interim dividend of Rs. 3.50 per share.

Besides, the Board approved five shafts sinking projects including two ventilation shafts for its Dongri Buzurg Mine, Chikla Mine and Kandri Mine worth Rs 886 crore (approximate). These shafts will help the company to sustain as well as increase its existing production level in the coming years.

--IANS

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