MRPL Stock Surges 12% on Strong Q3 Results

Shares of Mangalore Refineries and Petrochemicals Ltd. (MRPL) surged as much as 12% on Wednesday, January 14, after reporting its results for the December quarter just a few minutes before the closing of trade.

Net profit for the period stood at ₹1,451 crore, compared to ₹627 crore during the September quarter.

Revenue for the period grew 9% from the September quarter to ₹24,712 crore from ₹22,684 crore. The revenue numbers are adjusted for the excise duty component.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the period increased to ₹2,784 crore from ₹1,489 crore in September.

EBITDA margin expanded by nearly 500 basis points to 11.3% from 6.6% in the previous quarter.

Shares of MRPL had gained as much as 12% intraday after the results announcement. The stock now trades 7% higher at ₹155.28. Shares have gained 14% in the last one year.