MRPL goes up and down

MRPL posted a very set of earnings for Q4FY22.

Its gross revenue from operations rose to Rs.28.228 crore from Rs.20,793 crore and net profit came in at Rs.3008 crore, up from Rs.268 crore (YoY).

The total throughput of the refinery stood at 4.38 million tonnes (mt) during the Q4 of 2021-22 as against 4.03 mt in the corresponding period of the previous financial year.

The company achieved a capacity utilization of 116.96 per cent for the fourth quarter of 2021-22 as compared to 107.50 per cent for the corresponding quarter of previous financial year.

For FY22, the company achieved highest ever production for polypropylene, LPG and motor spirit.

The company said its retail expansion plan is put in place for the next five years. As on date, 35 retail outlets have been commissioned.

The stock price is volatile. From its close of Rs.68.20, it opened slightly higher today at Rs.69.55, going up to an intraday high at Rs.73.70; from there profit booking has pushed the stock once again into the red; currently trading at Rs.68 levels.