MOIL Q4 results: Net profit rises 27% to Rs 116 cr on higher income

State-owned MOIL on Wednesday reported around 27 per cent year-on-year growth in net profit at Rs 115.65 crore for March quarter FY25 driven by a rise in income.

It had posted a net profit of Rs 91.14 crore in the January-March period of 2023-24 fiscal year, the company said in an exchange filing.

Income increased to Rs 458.20 crore during the quarter from Rs 439.85 crore a year ago. 

In entire FY25, the net profit rose by 30 per cent to Rs 381.63 crore from Rs 293.34 crore in 2023-24.

Speaking to PTI, company's 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."  MOIL has also registered rise in production as well as in sales, he said.

In FY25, the company's production stood at 18.02 lakh tonne, up 3 per cent year-on-year, while sales were higher by 3.3 per cent at 15.87 lakh tonne.

MOIL, under Ministry of Steel, is India's largest manganese ore producer.

The Nagpur-based company operates 10 underground and opencast mines in Maharashtra and Madhya Pradesh.