FAME outreach, Niveshak Didi scheme promoting safe banking practices: MoS (See 'Corp Brief') Rail Infra proposals Reviewed to Strengthen Integrated Logistics Network (See 'Corp Brief') IBC - Regulation 2B(3) will not justify unilateral forfeiture of entire Earnest Money Deposit, when scheme is rejected on technical grounds: IBBI (See 'Legal Desk') Smart Metering Adoption: 4.76 Crore Smart Meters installed (See 'Corp Brief') UDBHAV 2025: Telangana tops Medal Tally as Tribal Talent shines nationwide (See 'Corp Brief') PMLA - FIRs being fundamental documents based on which entire case was initiated by ED, failure to serve same is fatal omission on part of enforcement directorate: SAFEMA TRIBUNAL (See 'Legal Desk') Australia-India Education and Skills Council meeting to be held in New Delhi (See 'Corp Brief') RM appeals for generous contributions to Armed Forces Flag Day Fund (See 'Corp Brief') The Human Impact of Raipur-Vizag Corridor (See 'Corp Brief') A&C - Court's scope of inquiry u/s 11 is limited to prima facie examination of existence of arbitration agreement while adjudication u/s 8 is to be made for both existence & validity: HC (See 'Legal Desk') HM inaugurates newly-constructed Bio-CNG and Fertilizer Plant by Banas Dairy (See 'Corp Brief') NMDC signs MoU with IIT Kanpur to strengthen Cybersecurity (See 'Corp Brief') Misc - Decision of Lokpal cannot be challenged in judicial review if there is no procedural infirmity or irregularity in manner in which either CVC or Lokpal conducted inquiry: HC (See 'Legal Desk') GeM Hosts Orientation Session for IDAS probationers on transforming public procurement (See 'Corp Brief') NHAI receives SEBI's in-irinciple approval for registration of Raajmarg Infra Investment Trust as InvIT (See 'Corp Brief') Centre okays Export Promotion Mission to Boost MSMEs & first-time Exporters (See 'Corp Brief') Govt lists steps taken to include AI-based diagnostic tools in healthcare (See 'Corp Brief') Govt reviews steps for upskilling & increase womens' participation in MSME sector (See 'Corp Brief') PM Vishwakarma Scheme - holistic support for artisans of 18 traditional trades; 23.09 Lakh beneficiaries trained (See 'Corp Brief') Govt notifies DPDP Act & Rules thereof; simplified framework for startups & data fiduciaries (See 'Corp Brief') SARFAESI - as per Sec 15 of the Act, if borrower's management is taken over by secured creditor, the management may be restored upon full repayment of debt: HC (See 'Legal Desk') Afforestation, ecological restoration - coal mining cos steps to ensure ecological balance (See 'Corp Brief') Competition Act - allegations primarily concerning contraventions of the Companies Act or Ministry of Youth Affairs and Sports directives, do not relate to anti-competitive conduct or violation of the Act: CCI (See 'Legal Desk') RBI issues guidelines for banks to provide customer services in regional languages (See 'Corp Brief') IBC - If bank has released approved payments from TRA account operated by them, then bank was monitoring these transactions during entire CIRP: IBBI (See 'Legal Desk') Govt releases Credit Assessment Model for MSMEs to enhance digitally driven loan appraisal (See 'Corp Brief') IBBI - Cannot be expected to maintain information with respect to other laws outside its purview: IBBI (See 'Legal Desk') Govt's aid measures for MSMEs - TReDS, Rs 9000 Crore infusion (See 'Corp Brief') Indian media & entertainment sector to maintain growth despite AI disruption: Secy (See 'Corp Brief') PBPT - Transactions are rightly deemed benami u/s 2(9)(D) of PBPTA, where person who provided consideration for properties was not traceable: SAFEMA Tribunal (See 'Legal Desk') Sustainable coal mining - Govt simplifies approval for geological exploration & reports (See 'Corp Brief') Benami - Benami transaction is considered not only in case of transfer of property by beneficial owner for his ultimate benefit in future, but even if such properties is held by benamidar: SAFEMA (See 'Legal Desk') IITF-2025 - FCI Pavilion showcasing modernised foodgrain management bags bronze medal (See 'Corp Brief') Copyright Act - Police have jurisdiction to register FIR u/s 33EEC of the Drugs and Cosmetics Act in conjunction with cognizable offence under Copyright Act; registration of copyright not mandatory for criminal proceedings upon infringement: HC (See 'Legal Desk') VO Chidambarnar port receives first Clinker vessel following MoU with Ambuja Cement Ltd (See 'Corp Brief') PMLA - Sweep of Sec 5(1) is not limited to accused named in criminal activity relating to scheduled offence, but shall apply equally to person who is involved in any activity connected with proceeds of crime: SAFEMA (See 'Legal Desk')

Print

MOIL Profit Increases by 55% in Q-3

Published: Feb 02, 2023

By TIOLCorplaws News Service

NEW DELHI, FEB 02, 2023: ON 31st January, 2023, the Board of Directors of MOIL approved financial results for the quarter and nine months ended on 31st December, 2022.

In the third quarter, profit after tax (PAT) at Rs. 39.52 crore was higher by 45% than the second quarter of FY'23. The company has produced 3.37 lakh tonnes as against 2.41 lakh tonnes of manganese registering growth of 40% during the same period. Sales of manganese ore also increased by 44% from 2.06 to 2.97 lakh tonnes in comparison to the second quarter of FY'23. Revenue from operation has shown improvements of 28% from Rs. 236 crore to 302 crore during the same period.

During the nine months' period, the production has increased by 5% from 8.57 to 9.00 lakh tonnes despite extended rainy season up to the beginning of the third quarter.

MOIL Board has also declared interim dividend of Rs. 3.00 per shares for FY'23 on the face value of Rs. 10.00 each, amounting to total Rs. 61.05 crore.

"The company was geared up to register much better performance in the coming months" Ajit Kumar Saxena, CMD MOIL said.

MOIL Limited is a Schedule-A, Miniratna category-1 CPSE under the administrative control of Ministry of Steel, Government of India. MOIL is the largest producer of manganese ore in the country with a market share of 45%, operating eleven mines in the State of Maharashtra and Madhya Pradesh. The company has ambitious vision of almost doubling its production to 3.00 million tonnes by 2030. MOIL is also exploring business opportunities in the State of Gujarat, Rajasthan and Odisha besides other areas in the State of Madhya Pradesh.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.