Mangalore Refinery and Petrochemicals rose 1.32% to Rs 69.05 at 14:45 IST on BSE after the company reported 9.62% rise in net profit to Rs 1169.70 crore on 42.2% fall in total income to Rs 11474.43 crore in the Q4 March 2015 over Q4 March 2014.
The result was announced after market hours on Friday, 22 May 2015.
Meanwhile, the S&P BSE Sensex was down 238.95 points or 0.85% at 27,716.21.
On BSE, so far 2.61 lakh shares were traded in the counter, compared with an average volume of 1.42 lakh shares in the past one quarter.
The stock hit a high of Rs 71.60 and low of Rs 67.30 so far during the day. The stock had scaled a 52-week high of Rs 77 on 22 May 2014. The stock hit a 52-week low of Rs 45.10 on 17 December 2014.
The stock had underperformed the market over the past one month till 22 May 2015, declining 5.74% compared with Sensex's 0.24% rise. The scrip had however outperformed the market in past one quarter, gaining 7.92% as against Sensex's 4.36% fall.
The large-cap refinery has an equity capital of Rs 1752.60 crore. Face value per share is Rs 10.
Mangalore Refinery and Petrochemicals (MRPL) said company could achieve highest ever throughput of 4.12 million metric tonne (MMT) in Q4 March 2015 as against 3.84 MMT in Q4 March 2014 by consistent operation of the units. Operating margin improved to $8.56 per barrel in Q4 March 2015 compared with $5.10 a barrel in Q4 March 2014. Gross refining margin (GRM) was higher at $6.97 a barrel in Q4 March 2015 compared to $3.18 a barrel in Q4 March 2014. Strong operating performance from the refining business and lower flat prices resulting in lower fuel cost led to higher operating profits, MRPL said.
MRPL is a subsidiary of ONGC with ONGC holding 71.63% stake in the firm as at 31 March 2015.
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