MOIL Sales Hits New High in May'24, Registers 41% Y-o-Y Growth

MOIL LTD., in its recent press release, announced that it has achieved a new peak in monthly sales of manganese ore in May 2024. The company sold 2.15 lakh tonnes of manganese ore, surpassing its previous record of 1.83 lakh tonnes in December 2019. This marks a significant growth of 41% over May'23. The sales for April-May 2024 have also increased by 31.5% compared to the corresponding period last year. The company has raised the prices of various grades by approximately 65% in the current financial year due to favorable market conditions. In terms of production, MOIL achieved 3.05 lakh tonnes of manganese ore production in April-May 2024, a 7% growth over the same period last year. The company has also continued its focus on exploration activities, conducting exploratory core drilling of 18,609 meters in April-May 2024, a 26% increase year-over-year. Shri Ajit Kumar Saxena, CMD MOIL, congratulated the MOIL collective on this historic performance.