MOIL second quarter results announced: profit fell 18.79% year-on-year

MOIL Second Quarter Results Live Release: MOIL announced its second quarter results on October 25, 2024, revealing the challenging quarter faced by the company. Revenue fell by 16.01% year-on-year, and profit fell by 18.79% year-on-year, causing concerns among investors.

Compared with the previous quarter, revenue dropped significantly by 40.77% and profit dropped by 67.21%. The stark contrast underscores the struggles the company has faced in recent months.

It is worth noting that selling, general and administrative expenses decreased slightly by 3.62% month-on-month, but increased by 1.91% year-on-year, indicating an increase in operating costs.

Operating income was particularly severely affected, falling 76.66% month-on-month and 32.29% year-on-year, demonstrating the operational challenges MOIL currently faces.

Second quarter earnings per share (EPS) were $2.46, a decrease of 18.77% compared with the same period last year, further indicating that the company’s financial environment is severe.

Despite these setbacks, MOIL has returned -6.99% over the past week and -20.71% over the past six months, but has a relatively high year-to-date return of 10.52%.

The current market capitalization of the company is $6949.02 Cr, 52-week high $588 and lowest $218.25, highlighting the volatility of its stock performance.

As of October 26, 2024, analysts remain divided on the company’s prospects, with one analyst assigning a “Sell” rating and another a “Strong Buy” rating, reflecting uncertainty over MOIL’s future performance. Certainty.