State-run manganese ore producer MOIL today reported 8% increase in net profit to Rs 108 crore for the quarter ended September 30, 2012.
The company's net profit for the same period in the last fiscal was Rs 100 crore, the company said in a filing to BSE.
MOIL's net sales in the quarter, however, came down to Rs 229 crore, from Rs 248 crore in the corresponding period of FY'12, it said.
Total expenses of the company, dropped to Rs 129 crore, over Rs 144 crore for the same period in the year-ago period, it added.
Steel Minister Beni Prasad Verma had last month directed MOIL to raise production to meet the increasing requirement of the steel industry.
Verma had also advised MOIL to look for acquisition of mines abroad for increasing both production and turnover.
During the first half of current fiscal, MOIL's production increased by 3.69% over the corresponding period in the previous year.
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