Mangalore Refinery shares gain over 11% on robust earnings

Mangalore Refinery and Petrochemicals Ltd (MRPL) shares climbed more than 11 per cent today, trimming early gains, after reporting a net profit in the fourth quarter compared with a loss a year earlier.
MRPL shares ended at Rs 75.25, up 11.15 per cent, on the BSE after rising 19.12 per cent to Rs 80.65, a 52-week high. On the National Stock Exchange, the stock surged 10.41 per cent to Rs 74.75.
Over 61 lakh MRPL shares were traded on the NSE, while 16.61 lakh shares changed hands on the BSE.
The company's market value rose by Rs 1,323.31 crore to Rs 13,188.31 crore.

MRPL yesterday reported a Q4 net profit of Rs 1,067 crore on the back of foreign-exchange and inventory gains.
The unit of state-owned Oil and Natural Gas Corp had posted a net loss of Rs 62 crore in the January-March period of 2012-13.
The company was helped by a Rs 575 crore gain after the rupee appreciated against the US dollar and an inventory gain of Rs 503 crore.
For 2013-14, the company earned a net profit of Rs 601 crore as opposed to a loss of Rs 179 crore.