BAJAJ BROKING

Notification
No new Notification messages
Inventurus Knowledge Solutions IPO is Open!
Apply for the Inventurus Knowledge Solutions IPO through UPI in just minutes.
Open a Free Demat Account
Pay ZERO maintenance charges for the first year, get free stock picks daily, and more.
Trade Now, Pay Later with up to 4x
Never miss a good trading opportunity due to low funds with our MTF feature.
Track Market Movers Instantly
Stay updated with real-time data. Get insights at your fingertips.

MOIL Hikes Prices Across Product Range by 30-35%, Q4 Profit Up 12.6%

Listen to our Podcast: Grow your wealth and keep it secure.

0:00 / 0:00

Synopsis:

MOIL increases prices for ferro grades by 30-35%. Q4 FY24 net profit rises to ₹91.15 crore, up 12.6% YoY. Revenue drops 3% YoY but grows 36% sequentially. EBITDA margin slightly contracts to 30.8%.

MOIL News Today

MOIL, the state-owned manganese ore mining company, has announced a price hike effective June 1. Ferro grades with a manganese content of Mn-44% and above will see a substantial 35% increase, while those below Mn-44% will experience a 30% hike. This adjustment aligns with increases for all SGMR, fines, and chemical grades.

Electrolytic Manganese Dioxide (EMD) Price Adjustment

In addition to the ferro grade price adjustments, the basic price of Electrolytic Manganese Dioxide (EMD) has been raised by ₹1,000 per metric tonne (PMT), from ₹2,09,000/PMT to ₹2,10,000/PMT.

Q4 FY24 Financial Performance

MOIL reported a notable growth in net profit for the quarter ended March 2024. The company's net profit surged by 12.6% year-on-year to ₹91.15 crore from ₹80.95 crore in the corresponding period last year. On a quarter-on-quarter basis, the net profit witnessed an impressive increase of over 40%, rising from ₹54.1 crore in the December 2023 quarter.

Revenue and Operating Performance

Despite the profit growth, the company's revenue from operations witnessed a decline of almost 3% to ₹415.9 crore in the final quarter of FY24 compared to ₹428.06 crore in the year-ago period. However, there was a robust sequential growth of 36% in revenue. In the December quarter, MOIL reported revenue from operations at ₹306.3 crore.

On the operating front, MOIL's earnings before interest, taxes, depreciation, and amortisation (EBITDA) dropped by 3.2% year over year to ₹128.3 crore in Q4FY24 from ₹132.6 crore in the year-ago period. The EBITDA margin also contracted slightly to 30.8% in the quarter under review compared to 31% in the corresponding quarter of the previous fiscal year.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

For All Disclaimers Click Here: https://bit.ly/3Tcsfuc

Share this article: 

Read More Blogs

Our Secure Trading Platforms

Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading

Bajaj Broking App Download

8 Lacs+ Users

icon-with-text

4.4+ App Rating

icon-with-text

4 Languages

icon-with-text

₹4700+ Cr MTF Book

icon-with-text