State-owned MOIL on Wednesday posted a rise of 13 per cent in its net profit to Rs 131.07 crore during the March quarter, supported by reduced expenses.

The company had clocked Rs 116.03 crore net profit during the January-March quarter of 2020-21, it said in a regulatory filing.

During the quarter under review, the company’s total income declined to Rs 476.07 crore from Rs 481.56 crore in the year-ago period.

Total expenses trimmed to Rs 282.63 crore as against Rs 322.19 crore a year ago.

The company’s board has recommended a final dividend of Rs 3 per share for FY22.

MOIL, under the Ministry of Steel, is country’s largest manganese ore producer. PTI ABI SHW SHW

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