MOIL reports 13 per cent rise in profit to Rs 105.10 crore

The state-owned miner had posted a net profit of Rs 92.69 crore in the year-ago period, MOIL said in a regulatory filing.

Manganese ore producer MOIL Wednesday reported a 13 per cent rise in its standalone net profit to Rs 105.10 crore in the second quarter ended September 30.

The state-owned miner had posted a net profit of Rs 92.69 crore in the year-ago period, MOIL said in a regulatory filing.

During the July-September quarter, the company's total income also rose to Rs 402.86 crore from Rs 329.15 crore during the same period a year ago.

Its expenses were at Rs 227.08 crore during the said quarter, higher from Rs 185.45 crore in the same period last fiscal, the mini-Ratna company said.

At present, MOIL operates 10 mines. Six are located in the Nagpur and Bhandara districts of Maharashtra and four in the Balaghat district of Madhya Pradesh.

Shares of the company today ended 2.04 per cent up at Rs 177.95 apiece on BSE.

(With inputs from agencies.)