MOIL shines on hike in prices of manganese ores
DSIJ Intelligence / 01 Dec 2016
MOIL has fixed prices of different grades of manganese ore effective from December 1. The prices of all ferro grades of ore have been increased by 30 per cent on the existing prices prevailing since November 1, 2016.
MOIL has fixed prices of different grades of manganese ore effective from December 1. The prices of all ferro grades of ore have been increased by 30 per cent on the existing prices prevailing since November 1, 2016. All grades of SMGR and SMGR low increased by 25 per cent from prices of the previous month.
The prices of all grades of fines also increased by 25 per cent within one month's time. The chemical grades ore also rose by 10 per cent w.e.f. December 1. The existing price of electrolyte manganese dioxide has remained unchanged.
On the financial front, MOIL’s revenue increased by 32.07 per cent Rs 196 crore in Q2FY17 as compared to the same period in the previous financial year. The company posted operating profit of Rs 2.44 crore in Q2FY17 as against Rs 19.7 crore in Q2FY16. Its net profit decreased 14.6 per cent to Rs 41.47 crore in Q2FY17 on a yearly basis.
The share price of MOIL increased 4.69 per cent on the bourses in early trades and was trading at Rs 383.95 on intra-day basis.
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