MOIL profit up 32%

Manganese Ore India Limited (MOIL), a miniratna PSU under the Ministry of Steel, has posted a growth of 32 per cent in sales in the third quarter of 2006-07 as compared to the corresponding period of the previous year.

As against a sales turnover of Rs 82.83 crore in the third quarter of 2005-06, the company has achieved a sales revenue of Rs 109.05 crore in the current fiscal.

MOIL has earned a net profit of Rs 29.77 crore for the period October "" December 2006 as against Rs 22.71 crore in the corresponding period of 2005-06.

The cumulative sales turnover and net profit earned so far in 2006-07 (i.e. April-December 2006) is Rs 294.63 crore and Rs 80.19 crore respectively which indicates a growth of 25 per cent and 20 per cent respectively over the corresponding figures for 2005-06.

In terms of quantity, the sale of manganese ore has registered a quantum jump of 43 per cent during the third quarter of 2006-07 as compared to the previous year.

The cumulative sales quantity of manganese ore during the current year i.e. from April-December 2006, is at an all-time high of 8.25 lakh tonnes as compared to 5.04 lakh tonnes during the corresponding period in the previous year.

The production of manganese ore has also registered an impressive growth of 21 per cent during Oct-Dec 2006 (Q3) as compared to the corresponding period in the previous year.