Mangalore Refinery & Petrochemicals in focus

Mangalore Refinery & Petrochemicals moved up 4.40% to Rs 71.15 at 15:34 IST on BSE on reports the firm paid Rs 100 crore advance tax in Q4 March 2008 as compared to Rs 20 in Q4 March 2007.

A higher tax payment indicates higher net profit of the company in the quarter.

The scrip had touched a high of Rs 74.30 and a low of Rs 67.25 so far during the day. The stock had hit a 52-week high of Rs 149 on 4 January 2008 and a 52-week low of Rs 32 on 2 April 2007.

The mid-cap state-run oil refiner has an equity capital of Rs 1752.90 crore. Face value per share is Rs 10.

At the current price of Rs 71.15, the scrip trades at a PE multiple of 8.99, based on Q3 December 2007 annualised EPS of Rs 7.91.

The net profit of Mangalore Refinery & Petrochemicals rose 192.6% to Rs 346.60 crore on 11.2% rise in sales to Rs 8137.49 crore in Q3 December 2007 over Q3 December 2006.

Mangalore Refinery & Petrochemicals is an oil refiner and manufacturer of petroleum products.