Mangalore Refinery Q1 Results: Swings Into Loss Of Rs 272 Crore
Revenue increased 24% year-on-year for the three months ended June, reaching Rs 17,356.2 crore.
Mangalore Refinery and Petrochemicals Ltd. swung into loss in the first quarter of this financial year.
It posted a standalone loss of Rs 271.97 crore in the quarter ended June. This is in comparison to a profit of Rs 363.4 crore in the same quarter of the previous fiscal year, according to its stock exchange notification on Friday.
Revenue increased 24% year-on-year for the three months ended June, reaching Rs 17,356.2 crore. Operating income, or earnings before interest, taxes, depreciation, and amortisation, fell 84% year-on-year to Rs 179.6 crore. The Ebitda margin was flat at 1%.
The quarterly earnings were shared after market hours. The stock settled 1.16% higher at Rs 149.21 apiece on the NSE, compared to a 0.57% decline in the benchmark Nifty. MRPL's shares have fallen 34.88% in the last 12 months and risen 0.54% year-to-date.
Out of the four analysts tracking the company, one maintains a 'buy' rating, one recommends a 'hold' and two suggest 'sell', according to Bloomberg data. The average 12-month consensus price target of Rs 135.75 implies a downside of 9%.
