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- MOIL Ltd, a public-sector undertaking, has seen a significant 19% increase in share price, reaching a new lifetime high during intra-day trading on May 17, 2023.
- The surge in MOIL’s stock price follows a robust performance report for the January-March quarter of fiscal year 2023-24.
- “MOIL has consistently delivered strong financial results, underpinning its market position as India’s leading manganese ore producer,” noted a market analyst.
MOIL Ltd’s stock hits a record high after reporting a 12.6% increase in net profits and significant operational achievements in FY24.
Financial Performance in Q4FY24
Despite a slight drop in revenue, MOIL’s strategic pricing and operational efficiency led to a profitable quarter. The company reported a net profit of ₹91 crore, up from ₹81 crore in the same quarter last year, while revenue dipped slightly by 2.8% to ₹416 crore.
Operational Achievements and Future Outlook
MOIL achieved record production and sales volumes in FY24, with significant year-on-year growth. The company is focusing on expanding its market reach and enhancing production capacities to meet growing demand. Strategic investments and efficient resource management are expected to drive future growth.
Market Impact and Investor Sentiment
The positive financial results and operational milestones have significantly boosted investor confidence, reflecting in the stock’s performance. MOIL’s share price soared by 19% in a single day, marking it as one of the top gainers on the BSE.
Dividend Announcement and Shareholder Returns
Reflecting its strong financial health, MOIL announced a final dividend of ₹2.55 per share, bringing the total annual dividend to ₹6.05 per share. This move underscores MOIL’s commitment to delivering value to its shareholders.
Conclusion
MOIL Ltd’s strategic initiatives and robust financial performance have positioned it well for sustained growth. With a focus on increasing production and market expansion, MOIL is set to continue its trajectory as a leading player in the manganese ore industry.
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