MOIL Q3 net profit surges ~ 305% to Rs 245.91 crores, operational revenue rises ~ 33%

The Board of Directors of MOIL Limited has approved financial results of the company for the quarter and nine months ended December 31, 2021.

In the said meeting, they also recommended payment of interim dividend @ 30 % (i.e., Rs. 3.00 per share) for the year 2021-22. The company had paid interim dividend of Rs. 2.50 each previous year.

MOIL reported 305% jump in its net profit at Rs 245.91 crore for nine months ended December 31, 2021, as against Rs 60.59 crore in previous year.

Despite adverse impact of second and third wave of Covid19 affecting the operational activities of the company, MOIL has been able to record excellent performance with better product planning and marketing strategy. During the said nine months period, the company recorded Revenue from operations at Rs. 968.41 crores as against Rs. 727.26 crores during corresponding period last year. The company also registered growth of 16% in production as production of manganese ore increased from 7.41 lakh tonnes to 8.57 lakh tonnes during the said period.

The company has achieved highest Q3 turnover and total income in last four financial years. The net profit of the company at Rs. 123.88 crores is the highest quarterly profit since FY2019-20.

Shares of MOIL Limited was last trading in BSE at Rs. 176.50 as compared to the previous close of Rs. 185.50. The total number of shares traded during the day was 99100 in over 2247 trades.

The stock hit an intraday high of Rs. 184.85 and intraday low of 174.85. The net turnover during the day was Rs. 17762953.00.

Source : Equity Bulls

Keywords

MOIL INE490G01020 ResultUpdate Q3FY22 9MFY22