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Indian-Commodity  :  Corporate-World  :  Moil reports 8.74% fall in Q1 net profit

Moil reports 8.74% fall in Q1 net profit (07-Aug-2012)

Moil has reported results for first quarter ended June 30, 2012.

On standalone basis, the company has reported a fall of 8.74% in its net profit at Rs 99.41 crore for the quarter, as compared to Rs 108.93 crore for the same quarter in the previous year.   However, total income of the company has increased by 16.32% to Rs 294.84 crore for the quarter under review as compared to Rs 253.47 crore for the quarter ended June 30, 2011.

MOIL is the largest iron ore company in India and fifth largest in world. It currently operates seven underground mines (Kandri, Munsar, Beldongri, Gumgaon, Chikla, Balaghat and Ukwa mines) and three opencast mines (Dongri Buzurg, Sitapatore/Sukli, and Tirodi). The company is actively involved in exploration and development activities with a view to increase its proven manganese ore reserves.

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