New Delhi, Nov 3 (UNI) State-owned manganese ore producer MOIL Ltd has reported a 22.5 per cent incr
New Delhi, Nov 3 (UNI) State-owned manganese ore producer MOIL Ltd has reported a 22.5 per cent increase in net profit to Rs 149.39 crore for the first half of the current financial year, driven by higher sales and improved operational performance.
The company had posted a net profit of Rs 121.94 crore in the corresponding period of the previous financial year. The Mini-Ratna's board of directors has declared a first interim dividend of Rs 2.20 per equity share of Rs 10 face value for financial year 2026-27 (FY27).
Revenue from operations rose 8.7 per cent to Rs 740.01 crore during April-September 2026, compared with Rs 680.8 crore a year earlier. Total income increased 5.81 per cent to Rs 776.15 crore.
Profit before tax (PBT) grew 22.9 per cent to Rs 188.75 crore against Rs 153.58 crore in the first half of financial year 2025-26 (FY26).
The company's operational performance also improved, with manganese ore sales rising 9.67 per cent to 7.78 lakh tonnes during the first six months of FY27, compared with 7.10 lakh tonnes in the year-ago period. Production increased 1.76 per cent to 9.61 lakh tonnes from 9.44 lakh tonnes.
Commenting on the performance, MOIL Chairman and Managing Director V Suresh said the first-half results reflected the capabilities and hard work of the company's employees, supported by strategic planning and improved mining practices.
He said the company was giving considerable emphasis to its 'Waste to Wealth' initiatives, aimed at converting low-grade mining products into higher-value assets.
These initiatives, he said, would help ensure sustainable growth while enabling MOIL to maintain its market price leadership and support the domestic steel ecosystem.
Suresh added that the company was exploring new growth opportunities in both domestic and international markets, particularly in mining and downstream value addition.
MOIL, a Schedule 'A' Miniratna Category-I Central Public Sector Enterprise under the Ministry of Steel, is India's largest producer of manganese ore. It operates underground and open-cast mines across Maharashtra and Madhya Pradesh.
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