MOIL edges higher after manganese ore production rises 3.7% YoY in Q3

MOIL added 2.12% to Rs 375.25 after the company said that it has achieved a record manganese ore production of 4.77 lakh tonnes in Q3 FY26, registering a growth of about 3.7% over the corresponding period last year (CPLY).

"This is the highest-ever production achieved by the company in any third quarter since its inception," MOIL stated.

The public sector undertakings 9M FY26 production of manganese ore aggregated to 14.21 lakh tonnes, up 6.8% YoY.

"The sustained improvement in production performance is a result of focused mine planning, operational discipline, enhanced mechanization, and the dedicated efforts of MOILs workforce across all operating units," the company said in a statement.

MOIL is a Schedule 'A' Miniratna Category-I public sector undertaking (PSU) that is engaged in the business of mining and supplying manganese. At present, the company operates its underground and opencast mines located in the Nagpur and Bhandara districts of Maharashtra and Balaghat district of Madhya Pradesh.

The company's net profit jumped 40.99% to Rs 70.44 crore on a 19.24% increase in revenue to Rs 348.05 crore in Q2 FY26 as compared with Q2 FY25.

Powered by Capital Market - Live News