MOIL skids nearly 7 pc as Q4 net profit tanks

Shares of state-run MOIL today plunged nearly 7 per cent after the company reported a 79 per cent fall in stand-alone net profit for the fourth quarter ended March.
The stock slipped 5.67 per cent to settle at Rs 217 on BSE. During the day, it tumbled 6.84 per cent to Rs 214.30.
At NSE, shares of the company dipped 6.65 per cent to close at Rs 216.55.
MOIL today reported a 79 per cent fall in stand-alone net profit at Rs 21.38 crore for the fourth quarter ended March.
The firm had clocked a net profit of Rs 102.47 crore in the year-ago period, it had said in a BSE filing.

However, total stand-alone income rose 30 per cent to Rs 209.62 crore in January-March as against Rs 161.74 crore during the same quarter of 2014-15.
Its expenses rose to Rs 249.73 crore, from Rs 102.58 crore during the quarter under review due to higher provisioning of retirement benefits, royalty and district mineral foundation payments, among others.
For 2015-16, the manganese producer's stand-alone net profit fell to Rs 173 crore, from Rs 428 crore in 2014-15. Its total income was also lower at Rs 628.74 crore as against Rs 823.25 crore during the same period.