MOIL Sept qtr net profit falls to Rs 88.61 cr

State-owned MOIL on Thursday reported a 15.68 per cent decline in net profit to Rs 88.61 crore during the September quarter. The company had clocked a net profit of Rs 105.10 crore in the year-ago period, MOIL said in a BSE filing.

Total income during the said period fell to Rs 306.32 crore from Rs 402.85 crore in July-September 2018-19. Expenses during the period under review slumped to Rs 201.85 crore as against Rs 227.07 crore in the year-ago quarter.

MOIL, under the Ministry of Steel, operates six mines in Maharashtra and four in Madhya Pradesh. The company produces and sells different grades of manganese ore.

Shares of the company settled at Rs 147.35 apiece on the BSE, up 0.82 per cent over previous close.

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