The shares of the petroleum Refinery company traded in green after announcing its Q2 FY24 results. The share has given decent returns to its investors, in just a period of 6 months it has given a return of 70.12 percent and 80.24 in YTD.
With a market capitalization of Rs. 18,198 crore, the shares of Mangalore Refinery and Petrochemicals Ltd started their Wednesday trading session at Rs. 102 level. The stock hit an intraday high of Rs. 108 making a gain of around 2.5 percent and closed it day at Rs. 103 apiece.
Such a positive movement was observed after the company announced a decent quarter result. The revenue of the company declined around 8 percent from Rs 24,832 crore during Q1 FY24 to Rs. 22,844 crore in Q2 FY24. On a contrasting note, the net profit of the company increased from Rs. 1,014 crore to 1,052 crore during the same period.
Comparing these metrics on a YoY basis, the revenue declined from Rs. 28,453 crore during Q2 FY23 to Rs. 22,844 crore in the current quarter. There was a significant shift from a net loss of Rs. 1,789 crore to a net profit of Rs. 1,052 keeping the time frame same.
Coming to the important financial ratios, the return on equity was at 31.11 percent during FY 22-23 and the return on capital employed was recorded at 20.25 percent in the same time horizon.
According to the latest shareholding pattern, Promoters have 88.56 percent stake in the company, the Public has 8.76 percent of holdings, FIIs have 1.54 percent of shares and the remaining 1.12 percent is with DIIs.
The share has given decent returns to its investors, in just a period of 6 months it has given a return of 70.12 percent and 80.24 in YTD.
Established in 1988, Mangalore Refinery and Petrochemicals Limited is located in the center of Mangalore. The company is a division of Oil and Natural Gas Corporation which is under the ownership of the Ministry of Petroleum and Natural Gas of the Government of India.
Written By Vaibhav Patil
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