Shares of Mangalore Refinery and Petrochemicals Ltd (MRPL) slipped by nearly 8% in early trade on the BSE today, despite the company reporting a 21% jump in third quarter net profit yesterday.
MRPL had posted a net profit of Rs 313.76 crore for the quarter ended December 31, 2010, compared to Rs 259.54 crore in the year-ago period.
Profit-booking by wary investors amid a weak broader market saw shares of MRPL shed 7.76% to hit a one-year-low of Rs 61.80 apiece on the Bombay Stock Exchange.
Similarly, the MRPL scrip lost 4.17% to Rs 64.20 in the morning session on the National Stock Exchange.
Meanwhile, the BSE benchmark Sensex was down 9.40 points at 17,766.30 at 11:17 am today.
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