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MOIL posts Rs 7 crore profit in Q2

The company had clocked Rs 88.59 crore net profit during the same quarter a year ago, MOIL said in a BSE filing.

October 28, 2020 / 06:23 PM IST
 
 
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State-owned manganese ore mining firm MOIL on Wednesday reported a consolidated net profit of Rs 7.33 crore for September quarter 2020-21.

The company had clocked Rs 88.59 crore net profit during the same quarter a year ago, MOIL said in a BSE filing.

The results are not comparable with the year-ago period, it added.

During the quarter, the company’s total income was at Rs 333.20 crore. In the year-ago period it was Rs 306.30 crore.

Total expenses in the quarter under review were at Rs 324.55 crore.

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In the year-ago period, they were Rs 201.85 crore.

"COVID-19 pandemic and lockdown protocols have led to severe disruptions, affecting both the turnover and the profit during the current reporting period. Therefore, the performance of the company for this period is not comparable with the corresponding period or any period of previous year,” it said.

MOIL, under the Ministry of Steel, is the largest producer of manganese ore in the country and operates 11 mines in Maharashtra and Madhya Pradesh.
PTI
first published: Oct 28, 2020 06:23 pm

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