Shares of Mangalore Refinery and Petrochemicals Limited (MRPL) witnessed strong buying interest on Monday, surging more than 9% in intraday trading.
As of 12:04 PM IST, MRPL shares climbed significantly during the session after opening slightly below the previous close. The stock opened at ₹178.10, compared to the previous close of ₹178.14, but quickly gained momentum during the morning trade.
During the day, the stock touched an intraday high of ₹195.89, while the day’s low stood at ₹173.91.
Trading activity also remained exceptionally strong. Live trading volume crossed 3,29,07,158 shares, indicating heightened participation from both retail and institutional investors.
Despite today’s strong rally, MRPL still remains below its 52-week high of ₹212.31. However, the stock has rebounded significantly from its 52-week low of ₹110.71, reflecting a recovery trend over the past several months.
MRPL Q3 Results
Mangalore Refinery and Petrochemicals Limited reported improved financial performance for the third quarter, with higher profit, revenue growth and stronger operating margins compared with the previous quarter.
The company reported a net profit of ₹1,451 crore for the quarter, significantly higher than ₹627 crore recorded in the September quarter. The increase reflects a sequential improvement in profitability during the period.
Revenue for the quarter stood at ₹24,712 crore, marking a 9% rise from ₹22,684 crore in the September quarter. The revenue figures are adjusted for the excise duty component.
Operating performance also improved during the quarter. Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased to ₹2,784 crore from ₹1,489 crore in the previous quarter.
The company’s EBITDA margin expanded to 11.3% compared with 6.6% in the September quarter, representing an improvement of nearly 500 basis points on a sequential basis.
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