Shares of MRPL rise more than 9% as Q2 profitability returns.

Shares of Mangalore Refinery and Petrochemicals Ltd. (MRPL), the oil refiner jointly owned by Oil & Natural Gas Corporation (ONGC) along with Hindustan Petroleum Corporation Ltd. (HPCL). MRPL returned to profitability during the September quarter, reporting a net profit of ₹974 crore, compared to a net loss of ₹402 crore it reported during the June quarter. The company's revenue during the September quarter increased by 27% on a sequential basis to ₹22,648 crore from ₹17,798 crore in June. Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter stood at ₹1,488 crore, which is more than double of the ₹622 crore it reported in June. In percentage terms, MRPL's EBITDA went up by 139% quarter-on-quarter.