MOIL Q2 Net Profit Jumps Over 2-fold to Rs 61.52 Crore

State-owned MOIL on Wednesday posted an over two-fold growth in its net profit to Rs 61.52 crore for the September quarter, helped by higher income. It had clocked Rs 27.34 crore net profit in the year-ago period, the company said in a regulatory filing.

Total income rose to Rs 368 crore, over Rs 256.82 crore in the same quarter a year ago. The company’s expenses stood at Rs 286.43 crore, as against Rs 229.82 crore in the year-ago quarter.

MOIL, under the Ministry of Steel, meets about 46 per cent of the total requirement of dioxide ore in the country.