Shares of state-owned MOIL surged over 6% to Rs 334.85 in early trade on Thursday after the company reported a strong set of financials for the March quarter of FY25. The manganese ore miner posted a 27% year-on-year rise in net profit to Rs 115.65 crore, compared to Rs 91.14 crore in the same period last fiscal.
The company’s revenue also increased to Rs 458.20 crore, up from Rs 439.85 crore a year ago. For the full financial year FY25, MOIL’s net profit rose 30% to Rs 381.63 crore, compared to Rs 293.34 crore in FY24.
Speaking to PTI, MOIL CMD Ajit Kumar Saxena said, “We have ended the fiscal delivering positive financial numbers. We will try to maintain this momentum in the coming quarters.” The company also reported a 3% YoY rise in production to 18.02 lakh tonnes and a 3.3% growth in sales to 15.87 lakh tonnes during FY25.
MOIL, India’s largest manganese ore producer under the Ministry of Steel, operates 10 mines across Maharashtra and Madhya Pradesh. The company’s market capitalization now stands at approximately Rs 67,840 crore, with a P/E ratio of 19 and a dividend yield of 1.59%.
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