-- MOIL's (NSE:MOIL, BOM:533286) net profit declined to 926.1 million Indian rupees in the fiscal fourth quarter ended March 31, from 1.16 billion rupees a year ago.
Earnings per share contracted to 4.55 rupees from 5.68 rupees a year earlier, the manganese-ore mining company said in a filing to the Indian stock exchanges on Wednesday.
Revenue from operations in fiscal Q4 rose to 4.44 billion rupees from 4.33 billion rupees a year ago.
The company's shares were down over 6% in recent trade.
Crude oil prices rose on Thursday, hitting a four-year high, amid concerns that hostilities in the Middle East may start up again and prolong the supply disruptions in the region.Brent crude at last look jumped 2.9% to US$121.48/barrel and West Texas Intermediate crude climbed 1.5% to $108.51/barrel. This comes after Axios, citing unidentified sources, reported that U.S. President Donald Trump is set to receive a briefing on plans for a series of military strikes on Iran to push for a return to negotiations on its nuclear program, Reuters said in a Thursday report.Additionally, Trump spoke with oil companies about how to mitigate the impact of a possible months-long U.S. blockade, Reuters reported, citing a White House official.Continued price hikes risk a renewed spike in global inflation and higher fuel prices, the report said. "For those who do not think Brent prices have the potential to reach $150 a barrel, you ought to look away now," Reuters quoted John Evans of oil broker PVM as saying."Prospects for any near-term resolution to the Iran conflict or a reopening of the Strait of Hormuz remain dim," IG market analyst Tony Sycamore was quoted as saying in a note.