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During May 2023, the production grew 16.79% from 1.31 lakh tonne recorded in April 2023.
On the sales front, MOIL said that it has recorded a growth of 72% at 1.53 lakh tonne during the period over the previous year.
The company said it has achieved best ever monthly production of electrolytic manganese dioxide (EMD) in May 2023.
EMD is a 100% import substitution product, used mostly for pharmaceuticals and manufacturing of batteries.
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 March 2023.
The company's net profit declined 36.2% to Rs 80.95 crore on 8.5% decrease in net sales to Rs 428.06 crore in Q4 FY23 over Q4 FY22.
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