MOIL Ltd reports stable results

MOIL Ltd reported stable numbers for the fourth quarter, despite the Seventh Pay Commission adding pain to company’s margins.

The revenue for the quarter rose by 57 per cent YoY and 32.6 per cent QoQ to Rs 398 crore in Q4FY18 as against Rs 253 crore in the corresponding quarter previous year and Rs 300 crore in Q3FY18. This was largely due to all-time high production of manganese ore in FY18.

The EBITDA for the quarter declined by 2 per cent YoY and 3.2 per cent QoQ to Rs 119 crore in Q4FY18 as compared with Rs 122 crore in the corresponding quarter previous year and Rs 123 crore in Q3FY18. The EBITDA margin for the quarter also declined by 18 per cent and stood at 29.9 per cent in Q4FY18 as against 48.1 per cent in Q4FY17. This was largely due to significant rise of 65 per cent YoY in employee benefit expenses due to the Seventh Pay Commission recommendation.

The net profit for the quarter also rose by 10.4 per cent to Rs 128 crore in Q4FY18 as against Rs 116 crore in Q4FY17. For the full year, the revenue grew by 33.7 per cent YoY and EBITDA for the year grew by 80 per cent YoY , while the margin for the year also expanded by 1040 bps to 40.2 per cent in FY18. The bottomline for the year rose by Rs 422 crore in FY18 versus Rs 306 crore in FY17.

The stock closed almost flat at Rs 196, down by a measly 0.20 per cent.