Mangalore Refinery & Petrochemicals (MRPL), a subsidiary of Oil & Natural Gas Corporation, has posted a decline of 50.31 per cent in its net profit for the quarter ended 30 June at Rs 420.07 crore compared with Rs 845.40 crore in the previous corresponding quarter. The company's net sales dipped by 42.59 per cent during the quarter to Rs 6169.88 crore from Rs 10,746.63 crore last year.
The company's profit from operations before income, interest and other exceptional items plunged to Rs 600.29 crore from Rs 1,333.81 crore, a dip of 54.99 per cent. The basic earning per share for the quarter stood at Rs 2.40 against last year's Rs 4.82.
On the Bombay Stock Exchange(BSE), the company's share prices were trading at Rs 81.50, down 3.72 per cent at 1213 IST.
