Q4FY23 results: MOIL's net profit declines by 33.52% on y-o-y basis; board recommends dividend

New Delhi: State-owned MOIL Limited declared its standalone and consolidated financial results for the financial year that ended on March 31. The company registered a decrease in its net profit from Rs 376.98 crores in FY22 to Rs 250.59 crores in FY23, recording a decline of 33.52 percent on a y-o-y basis. However, on a q-o-q basis, the company registered an increase in its net profit from Rs 39.51 crores in Q3FY23 to Rs 80.94 crores in Q4FY23.

The PSU recorded a decrease in revenue from operations from Rs 1,436.30 crore to Rs 1,341.64 crore, registering a decline of 6.59 percent on a y-o-y basis. However, on a q-o-q basis, the revenue from operations increased from Rs 302 crores in Q3FY23 to Rs 428.06 crores in Q4FY23.

The company's total expenses increased from Rs 998.69 crore in FY22 to Rs 1,086.88 crores in FY23. On a q-o-q basis, Its total expenses increased from Rs 276.74 crores in Q3FY23 to Rs 327.02 crores in Q4FY23.

"The board recommended a Final dividend of Re 0.69 per equity share of face value of Rs10 each, for the financial year that ended on March 31," the filing said.

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