MRPL hits highest level since Oct 2018, rallies 34% in four trading days

For Q4FY22, MRPL reported standalone net profit of Rs 3,008 crore as against profit of Rs 268 crore in Q4FY21.

Shares of Mangalore Refinery & Petrochemicals (MRPL) hit over three-year high of Rs 89.25, after they rallied 10 per cent on the BSE in Wednesday’s trade. The stock has surged 34 per cent in four trading days after the company reported strong earning for March quarter (Q4FY22). The stock of the state-owned refineries and marketing company quoted its highest level since October 2018.

MRPL is engaged in the business of refining crude oil, and is a subsidiary of Oil and Natural Gas Corporation Limited (ONGC), which holds 71.63 per cent equity shares.

For Q4FY22, MRPL reported standalone net