Mangalore Refinery and Petrochemicals share price crashed over 7.42% in Thursday's trading session despite the company reported strong financial results for the September quarter FY27.
Mangalore Refinery and Petrochemicals shares opened at ₹189.60 per share on NSE today, as compared to previous close of ₹185.26 on Wednesday and touched an intraday low of ₹171.20 on 15 October.
Mangalore Refinery and Petrochemicals Ltd (MRPL), a subsidiary of Oil and Natural Gas Corporation (ONGC), posted a nearly threefold year-on-year jump in standalone net profit to ₹1,881 crore in the second quarter of FY27, compared with ₹639 crore in the corresponding quarter last year.
Revenue from operations increased 37.1% year-on-year to ₹35,590 crore in Q2 FY27 from ₹25,953 crore in Q2 FY26. Profit before tax (PBT) also rose significantly to ₹2,519 crore from ₹975 crore in the year-ago period.
The company's earnings before interest, depreciation, tax and amortisation (EBITDA) more than doubled to ₹3,210 crore in the September quarter, against ₹1,565 crore in the corresponding period of the previous fiscal year.