Hit by subdued demand and price of manganese ore, state-run MOIL Ltd's turnover this financial year is likely to fall by over 20 per cent to Rs 900 crore. "MOIL has projected around Rs 900 crore turnover and Rs 390 crore net profit for the current year.
This is a bit low than its 2010-11 figures," a steel ministry official said. The company had earned Rs 588 crore net profit on a Rs 1,140 crore turnover in 2010-11. In the first nine months, MOIL Ltd had clocked Rs 698 crore turnover and Rs 311 crore net profit.
