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Our Bureau

Hyderabad, Nov. 22

Manganese Ore India Ltd (MOIL), a public sector unit of the Steel Ministry, has paid Rs 16.25 crore dividend to the Centre for the year 2005-06. The Nagpur-based 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.

Mr Kishan Lal Mehrotraa, Chairman-cum-Managing Director of the company, presented the dividend cheque to the Union Minister of Steel, Chemicals and Fertilisers, Mr Ram Vilas Paswan. According to a MOIL press release, during the first half of this financial year, the company has produced 4.16 lakh tonnes of manganese ore, an increase of 14 per cent against the corresponding period of the previous year.

The total sales during the period were Rs 185.58 crore, an increase of 21 per cent compared with the first-half of the previous year. The profit after tax was Rs 50.41 crore during the period.

More Stories on : Dividend Announcement | Performance | Minerals

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