InvestorQ : Why has MOIL reported such a sharp fall in net profits in the Mar-20 quarter?
Priyanka N made post

Why has MOIL reported such a sharp fall in net profits in the Mar-20 quarter?

Answer
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NISHA Nayak answered.
4 months ago


Manganese Ore India Limited or MOIL lost 4% value on Friday after it reported a 90% fall in net profit at Rs.13.47 crore for the Mar-20 quarter. However, this needs to be understood in the light of the fact that the stock has already rallied 50% in the last couple of months, so this could be more of a muted correction in the stock after the frenetic rally.

The sharp fall in net profits was due to the sharp fall in total sales income which fell by over 40% to Rs.283 crore. Total expenses for MOIL in the Mar-20 quarter stood at Rs.261 crore as compared with Rs.293 crore in the year-ago quarter. MOIL being a manganese mining company has shown good performance on the back of a robust demand pick from China.