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MRPL hits 52-week high after good Q4 earnings

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Mangalore Refinery & Petrochemicals rose 3.92% to Rs 140.40 at 11:42 on after net profit spurted 42.6% to Rs 1942.42 crore on 43.5% increase in net sales to Rs 13325.76 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 17 May 2017.

Meanwhile, The S&P Sensex was down 111.58 points, or 0.37% at 30,544.32.

High volumes were witnessed on the counter. On the BSE, 9.17 lakh shares were traded on the counter so far as against the average daily volumes of 2.78 lakh shares in the past one quarter. The stock had hit a high of Rs 142.75 so far during the day, which is also its 52-week high. The stock had hit a low of Rs 135.25 so far during the day.

The stock had hit a 52-week low of Rs 63.05 on 24 June 2016. The stock had outperformed the market over the past one month till 17 May 2017, advancing 14.35% compared with the Sensex's 4.23% rise. The scrip had also outperformed the market over the past one quarter advancing 23.27% as against the Sensex's 7.69% rise.

The large-cap company has equity capital of Rs 1,752.60 crore. Face value per share is Rs 10.

Mangalore Refinery & Petrochemicals' earnings before interest, tax, depreciation and amortization (EBITDA) increased by 80% to Rs 3,189 crore in Q4 March 2017 over Q4 March 2016.

Mangalore Refinery and Petrochemicals is a subsidiary of ONGC with ONGC holding 71.63% stake in the firm (as per the shareholding pattern as on 31 March 2017).

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, May 18 2017. 11:43 IST