15 Dec 2019 | 6:39 AM

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COMPANYNEWS
MOIL Q2 net profit down 15.69% at Rs 88.61 cr
  MOIL Ltd. | 13 Dec 2019 | 04:01 PM
Published on 11-15-2019
The company reported standalone net profit of Rs 88.61 crore for the quarter ended September 30 2019 as compared to Rs 105.10 crore in the same period last year registering a year-on-year decline of 15.69 per cent.


Net revenue of the company declined substantially by 29.25 per cent at Rs 253.11 crore in July-September quarter of this fiscal as against Rs 357.77 crore in the corresponding period last year.


During July-September quarter operating expenses dropped by 19.62 per cent to Rs 169.99 crore from Rs 211.47 crore in year ago period.


Other Income grew by 18.01 per cent at Rs 53.21 crore versus (Sep`18 Rs 45.09 crore).


Operating Profit slipped by 43.19 per cent to Rs 83.12 crore as against Rs 146.30 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 19.69 per cent in September quarter.


Taxation decreased by 77.57 per cent at Rs 15.85 crore (Sep`18 Rs 70.68 crore).