Quarterly production for July–September rose 10.3% year-on-year to 4.42 lakh tonnes, while sales climbed 18.6% to 3.53 lakh tonnes, the company said in an exchange filing.
Exploratory core drilling surged 46% in September to 5,314 metres and touched a record 21,035 metres for the quarter, up 4.1% from last year. “The growth achieved across key parameters underscores MOIL’s commitment to strengthening its operational excellence and ensuring long-term sustainability,” Chairman and Managing Director Ajit Kumar Saxena said.
Nagpur-headquartered MOIL, formerly Manganese Ore (India) Ltd, is the country’s largest producer of manganese ore, a key raw material in steelmaking.
The company, under the Ministry of Steel, operates 11 mines in Maharashtra and Madhya Pradesh and accounts for about 40% of India’s domestic manganese output.
Shares of MOIL ended 6.2% at ₹391.45 on the BSE. In the last six months, the stock rose nearly 17% and year-to-date, the stock is up nearly 13%.