The performance was backed by record quarterly production, going up to a level of 4.70 lakh tonne during April-June 2024, registering a growth of 7.8% YoY.

MOIL has also continued its focus on exploration activities and carried out exploratory core drilling of 30,028 meters in Q1 FY25, which is higher by 49% YoY.

Ajit Kumar Saxena, CMD of MOIL, mentioned that it was heartening to see MOIL team continuing the stellar performance rhythm and breaking the myth of first quarter syndrome. He expressed confidence that the company will continue to maintain this momentum in the coming times.

MOIL is engaged in the exploration, exploitation and marketing of manganese ore and products, such as electrolytic manganese dioxide and high carbon ferro manganese alloy. The Government of India held 64.68% stake in MOIL as on 31 December 2023.

The company's net profit rose 12.60% to Rs 91.15 crore despite a 2.85% fall in sales to Rs 415.88 crore in Q4 FY24 as compared with Q4 FY23.