MOIL Q3 update: Sales jumps 13% YoY as PSU posts best ever quarterly performance

State-run MOIL achieved its best-ever third-quarter and nine-month performance in the quarter ended December 31, 2024, the company said in an update on Thursday. The mining company recorded a record high third-quarter manganese ore production of 460,000 tonnes, and third-quarter sales reached a record high of 388,000 tonnes, an increase of 13% year-on-year ( CPLY).

For the April-December period, MOIL recorded production of 1.33 million tonnes, which was an increase of about 4.5% year-on-year. Sales were 11.39 billion tons, 3.5% higher than CPLY.

The test drilling distance was 72,340 meters, an increase of 19% compared to the previous year.

“Due to the record-breaking performance described above, MOIL is expected to exceed its highest-ever third quarter sales,” the company’s filing said.

Commenting on the company’s performance over the past quarter, Ajit Kumar Saxena, Chairman and Managing Director, expressed satisfaction and expressed confidence that the company will continue to maintain its growth momentum. Ta.

This update was announced after market hours and MOIL stock today ended at Rs 338 on the NSE market, down Rs 8 or 2.31% from Wednesday’s closing price. MOIL has lagged the market, returning just 7% over the past 12 months. This is lower than Nifty, which had a return of 12% during the same period. The company’s stock is currently trading above its 50-day simple moving average (SMA) of Rs 331, but down from its 200-day SMA of Rs 401. Trendlin data.

It was also very unstable during this period, with a 1-year beta of 1.6.

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