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 MOIL pays Rs. 16.26 cr dividend to Govt.

New Delhi November 18, 2006

Manganese Ore (India) Ltd. (MOIL), a public sector unit of the Steel Ministry has been consistently showing excellent performance for the past several years. It has paid Rs.16.25 crore dividend to the Government of India for the year 2005-06. The company has made a profit of Rs.114.52 crore after tax during the year and approved 130 per cent total dividend of Rs.19.92 crore. It has also paid an interim dividend of Rs.10 crore (80 per cent) to the Government in March, 2006. During the year 2005-06, it produced 8.65 lakh tones manganese ore, 1301 tonnes of Electrolytic Manganese Dioxide and 6170 tonnes of Ferro Manganese. Total sales during the year was to the tune of Rs. 334.10 crore. The company earned a profit before tax of Rs.169 crore registering an increase of 273 per cent compared to 2003-04.

During the first half of this financial year, the company has produced 4.16 lakh tones of manganese ore with an increase of 14 per cent against the same period of the previous year. The production of Electrolytic Manganese Dioxide and Ferro Manganese was 632 tonnes and 4960 tonnes registering an increase of 222 per cent and 78 per cent respectively. The total sales during the period was Rs.185.58 crore with an increase of 21 per cent as compared to the first half of the previous year. It has earned a profit before tax of Rs.75.99 crore and profit after tax of Rs.50.41 crore during the period.

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