Shares of Mangalore Refinery and Petrochemicals Ltd. (MRPL) jumped more than 13% to an intraday high of ₹178.40 on the Bombay Stock Exchange on Thursday, July 16.
The rally followed the release of first-quarter fiscal 2027 results, which showed the ONGC subsidiary returning to profitability with a net profit of ₹945.68 crore.
The financial improvement was driven by a 46% quarter-on-quarter increase in revenue, reflecting robust operational growth.
This marks a significant turnaround from the previous period, where the company reported a loss.
The financial improvement was driven by a 46% quarter-on-quarter increase in revenue, reflecting robust operational growth.
The strong performance underscores the refiner's ability to capitalize on improved refining margins and higher throughput volumes.
For investors, the shift from loss to profit represents a critical inflection point in the company's recent financial trajectory.