MOIL spurts after Q1 PAT jumps 66% YoY

3 Aug 2022 , 12:19 PM

Net sales rose by 28% year on year to Rs 375.59 crore from Rs 293.32 crore in the quarter ended 30 June 2022. Profit before tax (PBT) surged by 70% to Rs 137.50 crore in Q1 FY23 from Rs 137.50 crore in Q1 FY22. Total expenses increased by 8.6% year on year to Rs 253.28 crore during the period under review. Cost of raw materials consumed soared 84.3% to Rs 5.75 crore and employee benefits expenses rose 31.2% to Rs 147.18 crore in Q1 FY23 over Q1 FY22. During Q1 FY23, revenue from Mining products segment rose 26.3% year on year to Rs 345.99 crore and Manufactured products business revenue soared 50% year on year to Rs 32.40 crore. Revenue from Power segment stood at Rs 7.7 crore in Q1 FY23, up 33% YoY from Rs 5.79 crore posted in Q1 FY22. MOIL is engaged in the exploration, exploitation and marketing of manganese ore and products, such as electrolytic manganese dioxide and high carbon ferro manganese alloy. The Government of India held 64.68% stake in MOIL as on 30 June 2022. Powered by Capital Market – Live News