Mangalore Refinery and Petrochemicals (500109) Q2 24/25 earnings summary

Executive summary

• Board approved standalone and consolidated unaudited financial results for the quarter and half-year ended September 30, 2024, after review by the Audit Committee and statutory auditors.

• Financials reflect a significant swing to loss in Q2 FY25 compared to both the previous quarter and the same period last year.

Financial highlights

• Standalone revenue from operations for Q2 FY25 was ₹28,785.92 crore, up from ₹22,843.78 crore in Q2 FY24 and ₹27,289.40 crore in Q1 FY25.

• Standalone net loss for Q2 FY25 was ₹682.32 crore, compared to a net profit of ₹1,059.29 crore in Q2 FY24 and a net profit of ₹65.57 crore in Q1 FY25.

• Consolidated net loss for Q2 FY25 was ₹696.94 crore, versus a net profit of ₹1,051.68 crore in Q2 FY24 and a net profit of ₹73.22 crore in Q1 FY25.

• Total expenses increased to ₹29,886.92 crore in Q2 FY25 from ₹21,312.70 crore in Q2 FY24.

• Earnings per share (EPS) for Q2 FY25 stood at ₹(3.89) standalone and ₹(3.98) consolidated.

Outlook and guidance

• No explicit forward-looking guidance provided; management notes ongoing representation to the government regarding excise duty impacts.