Nagpur: City-based Miniratna PSU Manganese Ore India Limited (MOIL) recorded a 70% growth in its profit after tax (PAT) for the first quarter of the fiscal. This is one of the biggest jumps in its earnings, at least in the recent past, said company sources. MOIL is also the largest producer of manganese in the country, operating underground and opencast mines in Maharashtra, Madhya Pradesh.The company’s PAT stood at 87.62 crore as compared to 51.51 crore for same quarter last fiscal. Profit before tax saw a jump of 75%, touching 111.6 crore as against 63.82 crore in previous fiscal’s same quarter. This comes with a 7% growth in revenue from operations recorded at 370.88 crore. Total revenue, which includes non-operational income, touched 391.13 crore.A growth of 1% was registered in manganese ore production, and a 4% hike was seen in sales in terms of volume. Manganese ore production stood at 5,07,605 MT during quarter and was at 3,69,049 MT in terms of volume, said a press release. TNN
