MOIL Q3 net profit rises 2.3% to Rs 104 cr

State-run MOIL Ltd today reported a marginal 2.3 per cent rise in standalone net profit to Rs 103.78 crore for the third quarter ended December 31.
The company had posted standalone net profit of Rs 101.41 crore in the year-ago period, MOIL Ltd said in a BSE filing.
However, revenue from operations in the October-December period declined to Rs 299.80, from Rs 355.30 core in the corresponding quarter of previous fiscal.
The standalone total expenses of the company also dropped to Rs 192.64 crore, as against Rs 237.75 crore in the same period a year ago.
In a separate filing the company said that its board approved interim dividend of Rs 3 per equity share for the fiscal 2017-18.

MOIL produces and sells different grades of manganese ore. At present, MOIL operates 10 mines, six located in the Nagpur and Bhandara districts of Maharashtra and four in the Balaghat district of Madhya Pradesh.