During April-December period, MOIL registered production of 13.3 lakh tonnes which was higher by about 4.5% over the year ago period. The sales stood at 11.39 lakh tonnes, higher by 3.5% over CPLY.
It recorded exploratory core drilling of 72,340 meters, which is higher by 19% on the year-on-year basis.
“With the above record-breaking performance, MOIL is expected to surpass the best ever Q3 revenue,” the company filing said.
Commenting on the company’s performance in the quarter gone by, Chairman & Managing Director Ajit Kumar Saxena expressed satisfaction while exuding confidence that the company will maintain the growth momentum, going ahead.
The updates were announced after market hours and MOIL shares today ended at Rs 338 on the NSE, down by Rs 8 or 2.31% over the Wednesday closing price.MOIL has been a market laggard delivering just 7% returns over the past 12 months. It has underperformed Nifty whose returns in the same period stand at 12%.Though the stock is currently trading above its 50-day simple moving average (SMA) of Rs 331, it is down from its 200-day SMA of Rs 401 according to Trendlyne data.
It has also been quite volatile in this period with its 1-year beta at 1.6.
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