MOIL ने 1 जून से मैंगनीज उत्पादों के लिए कीमतों में बड़ी बढ़ोतरी की घोषणा की।

MOIL ने 1 जून से मैंगनीज उत्पादों के लिए कीमतों में बड़ी बढ़ोतरी की घोषणा की।

MOIL announces major price hikes for manganese products effective June 1.

MOIL, a state-owned manganese ore mining company, has implemented price increases across its product line effective June 1st. The announcement comes alongside a notable growth in net profit for the quarter ending March 2024.

  • Business
  • 109
  • 01, Jun, 2024
Jyoti Ahlawat
Jyoti Ahlawat
  • @JyotiAhlawat

MOIL announces major price hikes for manganese products effective June 1.

MOIL, the state-owned manganese ore mining company, has announced a price increase effective June 1st across its product range. Ferro grades containing manganese levels of Mn-44% and above will witness a 35% price hike, while those below Mn-44% will see a 30% increase, in line with adjustments for all SGMR (Silico Manganese Grade Raw), fines, and chemical grades.

Furthermore, the basic price of Electrolytic Manganese Dioxide (EMD) has been raised by ₹1,000 per metric tonne (PMT), rising from ₹2,09,000/PMT to ₹2,10,000/PMT. The company reported a net profit of ₹91.15 crore for the quarter ending March 2024, reflecting a 12.6% year-on-year increase from ₹80.95 crore in the corresponding period last year. Quarter-on-quarter, net profit surged by over 40% compared to ₹54.1 crore in the December 2023 quarter. However, revenue from operations decreased by nearly 3% to ₹415.9 crore in the final quarter of FY24 compared to ₹428.06 crore in the year-ago period, despite a robust sequential growth of 36%.

In the December quarter, the Central Public Sector Undertaking (PSU) recorded revenue from operations at ₹306.3 crore. Total income dropped by 2% year-on-year to ₹439.85 crore from ₹448.05 crore in the corresponding period. On the operational front, MOIL’s earnings before interest, taxes, depreciation, and amortization (EBITDA) decreased by 3.2% year-on-year to ₹128.3 crore in Q4FY24 from ₹132.6 crore in the same period last year.

The EBITDA margin of the state-run manganese producer contracted slightly to 30.8% in the quarter under review, compared to 31% in the corresponding quarter of the previous fiscal year.

MOIL Ltd's shares closed at ₹501.00, up by ₹16.50 or 3.41%, on the BSE on Friday (May 31).

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Jyoti Ahlawat

Jyoti Ahlawat

  • @JyotiAhlawat