The country's top manganese ore producer MOIL today posted 16 per cent rise in standalone net profit to Rs 113.4 crore for the quarter ended June 30, 2018-19, on the back of lower expenses.
It had posted standalone net profit of Rs 97.7 crore in the year-ago period, MOIL said in a filing to BSE.
However, the total income of the company in the April-June quarter of the current fiscal declined to Rs 360.98 crore, over Rs 381.66 crore in the year-ago period.
The total expenses of the company dropped to Rs 191.38 crore, over Rs 232.87 crore in the year-ago period.
MOIL produces and sells different grades of manganese ore. At present, MOIL operates 10 mines, six located in the Nagpur and Bhandara districts of Maharashtra and four in the Balaghat district of Madhya Pradesh.
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