Shares of Mangalore Refinery and Petrochemicals Ltd. fell over 7% on Thursday, October 15, even as the company reported a healthy second quarter earnings performance. The company's strong numbers on an annualised and sequential basis were due to better cracks across products.
While its revenue declined sequentially, the company's profit after tax , EBITDA and operating margins increased. Its revenue in the September quarter stood at ₹32,516 crore, down 15% from the previous quarter's ₹38,255 crore. Earnings before interest, taxes, depreciation and amoritsation though, increased by 149% to ₹3,278 crore in the second quarter compared to ₹1,318 crore in the June quarter.
The company's operating margins expanded sharply by seven percentage points to 10% from 3% in the quarter-ago period. Its profit after tax stood at ₹1,881 crore in the second quarter, up 106% from the prior quarter's ₹914 crore. MRPL's board of directors also declared an interim dividend ₹3 per share on fully paid upon equity shares of ₹10 each.
It has fixed October 21, 2026 as the record date for the same. The interim dividend will be paid to eligible shareholders on or before November 4, 2026. Shares of MRPL are currently trading 6.1% lower on Thursday after the results, as profit booking set in at higher levels.
The stock is now trading at ₹173.55, thereby trimming its year-to-date advance to 12%.