Q1FY19 Result: MOIL profit grows by 16 per cent

MOIL reported results for the quarter ended June, 2018 on Thursday.

The company’s standalone revenue for the quarter came in at Rs. 313.5 crore, registering 7.6 per cent yoy decline.

The revenue from Mining products remains muted at Rs. 298 crore. Whereas, Power segment grew by 9.2 per cent yoy. However, its Manufactured products segment saw massive decline by 59.8 per cent in its revenue.

EBITDA for the quarter rose by 12.9 per cent yoy to Rs. 136.8 crore with a corresponding margin expansion of 792 bps. EBITDA margin for the quarter stood at 43.6 per cent.

The PAT for the quarter came in at Rs. 113.4 crore, yoy increase of 16 per cent.

MOIL (Manganese Ore India Ltd) is Mini Ratna company. It is the largest producer of manganese ore by volume in the country with large reserves of high to medium grade of manganese ore. MOIL being India’s largest manganese ore producer, accounts for about 46 per cent of the country’s production.

On Thursday, the stock of MOIL opened at Rs. 187.50 per share and made an intraday low of Rs. 179 and finally closed at Rs. 180.95, on the BSE.