New Delhi, May 4 (IANS) India’s largest manganese ore producer, MOIL, in a strong start to the financial year 2025-26, has delivered its highest-ever April performance with the production of 1.62 lakh tonnes of ore, according to a statement issued by the Ministry of Steel on Sunday.
The production of the ore in April represents a 1.5 per cent growth over the corresponding figure for the same month of the previous year.
The government-owned company, which supplies manganese ore as an input for making steel, has also achieved its best ever exploratory core drilling of 11,453 metres, which is an impressive growth of 58 per cent over the corresponding figure for the same month last year.
The miniratna PSU’s Chairman and Managing Director Ajit Kumar Saxena said: “MOIL’s April performance sets a positive tone for the year ahead. The organisation remains committed to sustained growth and value creation.”
MOIL reported a 27 per cent increase in consolidated net profit to Rs 115.7 crore for the January-March quarter of the financial year 2024-25, compared to Rs 91.1 crore in the corresponding quarter 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 shaft 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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