MOIL clocks 18 pc growth in manganese ore production in May

New Delhi, June 3 (IANS) MOIL, a miniratna government manganese ore mining company, on Tuesday said it has registered highest-ever May performance, reflecting strong operational momentum.

The company recorded 1.71 lakh tonnes of manganese ore production in May, registering an impressive 18 per cent growth over the corresponding period last year.

This marks the highest-ever production for the month of May and the fourth-highest monthly production since inception.

Additionally, exploratory core drilling touched 13,352 meters, reflecting a 17.5 per cent increase over the corresponding period last year -- reaffirming MOIL’s strategic push in expanding resource potential, according to a statement by Ministry of Steel.

“Our mines are the backbone of MOIL’s success. With this performance, we have shown that disciplined operations and efficient practices can consistently break barriers,” said Ajit Kumar Saxena, CMD MOIL.

India's largest manganese ore producer, in a strong start to the financial year 2025-26, delivered its highest-ever April performance with the production of 1.62 lakh tonnes of ore.

The government-owned company, which supplies manganese ore as an input for making steel, also achieved its best ever exploratory core drilling of 11,453 metres in April, which is an impressive growth of 58 per cent over the corresponding figure for the same month last year.

MOIL reported a 27 per cent increase in consolidated net profit to Rs 115.7 crore for the January-March quarter of the financial year 2024-25, compared to Rs 91.1 crore in the corresponding quarter of the previous financial year.

Revenue from operations during the quarter came in at Rs 433.4 crore, registering a 4.2 per cent increase from Rs 415.9 crore a year ago.

Operational performance remained stable, with EBITDA rising 8.7 per cent on-year to Rs 139.4 crore. EBITDA margin expanded to 32.2 per cent from 30.9 per cent in the year-ago period, reflecting improved cost control and firm pricing.

--IANS

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