Mangalore Refinery and Petrochemicals Ltd (MRPL) shares fell over 4% after the company reported a significant decline in net profit for the first quarter ending June 30, 2024.
MRPL’s net profit dropped 92.8% year-on-year to ₹73.2 crore, compared to ₹1,014.8 crore in the same quarter last year. Despite this, the company’s revenue from operations increased by 10.4%, reaching ₹23,247 crore against ₹21,057.6 crore in the corresponding period of the previous fiscal year.
At the operating level, EBITDA fell by 70.7% to ₹605.6 crore, down from ₹2,068.3 crore in the first quarter of the previous fiscal year. The EBITDA margin decreased to 2.6%, compared to 9.8% in the same period last year.
As of 9:45 AM the shares were trading 3.60% lower at ₹206.98 on NSE.
