MOIL Achieves Best Ever Q3 Performance With 4.6 Lakh Tonne Output

MOIL Ltd. on Thursday said that the October-December period in 2024 was its best ever third quarter in terms of performance.

In the quarter ended December, the mining company had produced 4.6 lakh tonne of manganese ore, according to its press release.

Sales too were at its best, as the state-owned public sector undertaking recorded 13% more business compared to the corresponding period last year.

In the nine-month period also, MOIL has made notable achievements. During the April-December period of 2024, the MiniRatna's production stood at 13.3 lakh tonne, which is higher by about 4.5% over the last year's similar period.

With 11.39 lakh tonne, the Nagpur-headquartered miner's sales witnessed a growth of 3.5% over last year's figure for the April-December period.

The company, which operates 11 mines across Maharashtra and Madhya Pradesh, has conducted exploratory core drilling up to 72,340 metres, which is higher by 19% over last year's similar period.

MOIL stated that with the record-breaking performance, it expects to clock its best-ever third quarter in revenue terms also.

Chairman and Managing Director Ajit Kumar Saxena expressed satisfaction over MOIL's performance and “was confident that the company will maintain the growth momentum”.

Shares of MOIL Ltd. closed 2.23% lower at Rs 338.10 apiece on the BSE, compared to a 1.83% advance in the benchmark Sensex on Thursday.