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Moroil Group’s Profits Drop by 30% in 2023



Moroil Group's Profits Drop by 30% in 2023

For the half year ended on 31st December 2023, Moroil Group, engaged in oil refining, packaging, and distribution, saw its profits decline to Rs 37.6 million, compared to Rs 49.0 million for the same period in 2022, representing a decrease of 30.3%.

Its revenue also decreased from Rs1.2 billion to Rs 833.8 million. Despite a sharp increase in operating income, its financial expenses contributed to the decline in net profits.

Moroil represents brands such as Puget, Denova, Miami, Marina, Amadora, Lesieur, and Olivor, among others.

Source: Le Mauricien

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