MOIL reported net profit of Rs 116 crore in Q4 FY21, steeply higher compared with 13.47 crore in Q4 FY20.
Net sales grew 81% to Rs 450.14 crore in Q4 FY21 as against Rs 248.66 crore in Q4 FY20. Profit before tax stood at Rs 159.37 crore in Q4 FY21, steeply higher than Rs 21.62 crore in Q4 FY20.The PSU company posted 14.1% decline in net profit of Rs 213.13 crore for the year ended March 2021 (FY21) compared with net profit of Rs 248.22 crore in the year ended March 2020 (FY20). Net sales jumped 13.4% to Rs 1,177.38 crore in FY21 over FY20.
The board recommended final dividend of Rs 4.90 per equity share for the Financial Year ended March 2021.
MOIL, a Schedule 'A' Miniratna category-I company, produces and sells different grades of Manganese Ore. It operates 11 mines, seven located in the Nagpur and Bhandara districts of Maharashtra and four in the Balaghat district of Madhya Pradesh. The Government of India holds 53.84% stake in MOIL as on 31 March 2021.
Shares of MOIL rose 0.47% to Rs 183.60 on Friday.
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