EconomyCompanies
MOIL's September-quarter profit falls 12% to ₹62 crore, ₹2.20 dividend declared
The state-run manganese ore miner took in more revenue but earned less as costs rose, and its board approved an interim dividend and a new subsidiary at GIFT City.
Key points
- MOIL's consolidated profit fell 12.3% to ₹61.77 crore in the September quarter.
- Revenue from operations rose 10.9% to ₹369.13 crore.
- The board declared an interim dividend of ₹2.20 a share, with 6 November as record date.
MOIL, the state-run manganese ore miner, reported a 12.3% fall in consolidated net profit for the July to September quarter on Monday, to ₹61.77 crore from ₹70.44 crore a year earlier.
The drop came even as the company brought in more money. Revenue from operations rose 10.9% to ₹369.13 crore from ₹332.74 crore, but costs climbed faster. Total expenses went up to ₹307.89 crore from ₹273.27 crore, and profit before tax slipped to ₹77.13 crore from ₹89.76 crore.
Earnings per share came in at ₹3.04, against ₹3.46 in the same quarter last year.
Dividend and a GIFT City arm
Despite the weaker quarter, the board declared an interim dividend of ₹2.20 a share for 2026-27, or 22% of the ₹10 face value. Shareholders on the register on 6 November will receive it.
The board also approved setting up a wholly owned subsidiary at GIFT City in Gujarat, to be called MOIL International IFSC Limited.
The numbers came on a busy results day. Petronet LNG and Marico reported earlier in the afternoon, and Container Corporation of India and ITC were among those due to follow in the evening.