Mangalore Refinery And Petrochemicals Ltd standalone net loss of Rs81cr in Q2FY19: Misses Estimates

The company’s standalone revenue stood at Rs17,723cr, up 42.77% yoy.

Nov 14, 2018 07:11 IST India Infoline Research Team

Mangalore Refinery And Petrochemicals Ltd Q2FY19

Standalone Results Q2FY19: (Rs. in cr)

Q2FY19 YoY (%)
Revenue 17,723 42.8
EBITDA 208 [78.5]
EBITDA Margin (%) 1.2 [660]
Net Loss  81 -
***EBITDA margin change is bps

Mangalore Refinery and Petrochemicals Ltd reported Q2FY19 results missing the estimates. Revenue grew by 42.8% yoy to Rs17,723cr against Rs12,414cr in Q2FY18. EBITDA for the quarter declined by 78.5% yoy to Rs208cr against Rs965cr. EBITDA margin declined by 660bps yoy to 1.2%. Net loss for the quarter stood at Rs81cr against profit of Rs478cr in corresponding quarter last year, missing the estimate of Rs377cr.

• Throughput grew by 10.8% yoy to 3.91 MMT in Q2FY19 against 3.53 MMT in Q2FY18.
• Exports grew by 143.3% yoy to Rs7876cr in Q2FY19 against Rs3237cr.
• Gross refining margin (GRM) for the quarter stood at $4.41/bbl against $8.05/bbl in Q2FY18.

Technical View:

Mangalore Refinery And Petrochemicals Ltd ended at Rs. 81.80, up by 0.55 points or 0.68% from its previous closing of Rs. 81.25 on the BSE.
The scrip opened at Rs. 82.75 and touched a high and low of Rs. 87.25 and Rs. 80.85 respectively. A total of 82,07,649 (NSE+BSE) shares were traded on the counter. The stock traded below its 200 DMA.

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