MOIL Q-I PROFIT UP 21 PER CENT

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Manganese Ore India Ltd. (MOIL), Nagpur, a public sector unit of the Steel Ministry has earned a profit after tax of Rs. 235.93 lakh against a target of Rs. 194.78 lakh during the first quarter of this fiscal with a growth of 21 per cent. It earned a profit before tax of Rs. 367.92 lakh against a target of Rs. 303.75lakh. MOIL's sales turnover during the quarter at Rs. 33.58 crore was nearly 6 per cent more than the target.

The company produced 1,67,673 tonnes of manganese ore, 99 per cent of the target. It produced 231 tonnes of electrolytic manganese dioxide and 2090 tonnes of ferro manganese crossing targets of 210 tonnes and 1705 tonnes respectively.