MOIL in good books

MOIL, a Mini-ratna, this PSU was earlier known as Manganese Ore (India) Ltd and was later changed to just the acronym. The Govt holds 65.58% stake and the stock is in the spotlight today. Awash in the color green, the stock rose 6% to Rs.340, with volumes jumping up almost 5 times.

The company posted a good set of numbers for Q4FY17 with net profit surging over 5 times to Rs.116 crore from Rs.22 crore (YoY). This was on a 20% rise in net income at Rs.253 crore. EBITDA was at Rs.122 crore v/s loss of Rs.6 crore (YoY).

What really helped was the 36% drop in total expenses. Unlike most other PSUs where employee cost has shot through the roof in Q4, in MOIL, it has actually come down 8%.