Latest News | MOIL Q4 Net Profit Nosedives over 90 Pc to Rs 13.5 Cr
Get latest articles and stories on Latest News at LatestLY. Sate-run MOIL on Thursday reported a sharp fall of over 90 per cent in its consolidated net profit at Rs 13.47 crore for the quarter ended March 31, 2020, mainly on account of reduced income.
New Delhi, Jun 18 (PTI) Sate-run MOIL on Thursday reported a sharp fall of over 90 per cent in its consolidated net profit at Rs 13.47 crore for the quarter ended March 31, 2020, mainly on account of reduced income.
The company had posted a net profit of Rs 139.63 crore during the same quarter a year ago, MOIL said in a BSE filing.
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Total income during the quarter under review fell to Rs 282.96 crore from Rs 487.47 crore in the year-ago period.
Total expenses stood at Rs 261.34 crore as compared with Rs 293.48 crore in the year-ago quarter.
The company produces and sells different grades of manganese ore. It operates 10 mines, six of which are located in Nagpur and Bhandara districts of Maharashtra, while four are in Balaghat district of Madhya Pradesh.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)