New Delhi–State-owned manganese ore producer MOIL reported a 70 percent increase in net profit for the first quarter of fiscal year 2026-27, supported by higher revenue, sales volume and price realization.
Net profit for the April-June quarter rose to Rs 87.62 crore from Rs 51.51 crore in the same period a year earlier, the company said Wednesday.
Revenue from operations increased 7 percent to Rs 370.88 crore, compared with Rs 348.06 crore in the corresponding quarter of the previous financial year. Total revenue rose 6 percent to Rs 391.13 crore from Rs 370.52 crore.
MOIL’s net sales realization increased 10 percent to Rs 9,749 per metric ton from Rs 8,884 per metric ton in the year-ago quarter.
Manganese ore production rose 1 percent to 507,605 metric tons from 502,260 metric tons in the same period last year. Sales volume increased 4 percent to 369,049 metric tons from 356,196 metric tons.
“The Board of Directors of MOIL Limited on Wednesday approved the financial and operational results for the first quarter of FY 2026-27. The company recorded steady growth across production, sales volume, and overall profitability,” the company said in a statement.
“These results reflect the dedication and hard work of our entire workforce. The operational discipline and commitment shown by our team have enabled the company to maintain growth across key metrics,” the company said.
MOIL added that it remains focused on increasing production, improving operational efficiency and meeting growing demand from India’s steel industry.
MOIL is a Schedule A, Miniratna Category-I central public sector enterprise under the Ministry of Steel. The company, India’s largest manganese ore producer, operates underground and open-cast mines in Maharashtra and Madhya Pradesh. (Source: IANS)
