MOIL Share Review

Shares of mining company MOIL saw a rise of 5 percent today on May 18. The stock closed at Rs 550.80 on BSE, which is its 52-week high.

In fact, the company has released strong financial results for the quarter ending March 2024.

This is the reason why there has been a lot of buying in the company's shares today.

With today's rise, the market cap of the company has increased to Rs 11207.97 crore. The stock's 52-week high is Rs 550.80 and 52-week low is Rs 151.50.

How were MOIL's quarterly results?

The state-run mining company reported a net profit of Rs 91.15 crore for the quarter ending March 2024.

This is 12.6 percent more on an annual basis than Rs. 80.95 crore in the same period last year. On a quarterly basis, the company's net profit increased by more than 40 percent from Rs 54.1 crore in the December 2023 quarter.

The company's board has recommended a final dividend of Rs 2.55 on each equity share of ₹10 face value for FY24.

However, the company's revenue declined by nearly 3 per cent to ₹415.9 crore in the last quarter of FY24, compared to ₹428.06 crore in the year-ago quarter.

At the same time, it has seen a healthy double digit growth of 36 percent on a quarterly basis.

According to the earnings report released on May 15, the company had registered a revenue of Rs 306.3 crore in the December quarter.

Its total income declined by 2 per cent to ₹439.85 crore from ₹448.05 crore in the same period last year.

MOIL's highest ever production in financial year 2024

MOIL recorded its highest ever manganese ore production of 17.56 lakh tonnes in FY 2024 since its inception, which is 35% more than the company's manganese ore production in the previous financial year.

The company also recorded its highest ever sales of 15.36 lakh tonnes in FY24, an increase of 30 per cent year-on-year, with the company registering a record turnover of ₹1,449.42 crore in the financial year.