MRPL

Shares of Mangalore Refinery and Petrochemicals Ltd. (MRPL) jumped more than 13% to an intraday high of ₹178.40 on July 16 after the company reported a sharp improvement in its financial performance for the June quarter (Q1 FY27). The company posted a consolidated net profit of ₹945.68 crore, compared to ₹116.99 crore in the previous quarter, while it had reported a net loss of ₹270.66 crore in the same quarter last year. Revenue from operations also rose significantly to ₹41,608.96 crore, driven by strong refining performance and improved market conditions. MRPL's operating performance remained strong during the quarter, with EBITDA increasing to ₹1,860 crore, while EBITDA margin improved to 3.44% from 1.03% a year ago. The company also reported higher refinery throughput of 4.43 million metric tonnes (MMT), reflecting improved operational efficiency. However, exports declined on a sequential basis, although they remained higher compared to the corresponding quarter of the previous year. Apart from strong financial results, MRPL achieved several operational milestones during the quarter. The company received PNGRB approval for its Aviation Turbine Fuel (ATF) pipeline to Bengaluru Airport, started product loading operations at multiple terminals across India, executed new storage tank lease agreements, and received ISCC CORSIA certification for co-processing used cooking oil under its Sustainable Aviation Fuel (SAF) programme. These developments strengthened investor confidence, leading to a sharp rise in the company's share price.