The Mangalore Refinery and Petrochemicals Ltd., (MRPL) has recorded ₹ 234 crore net profit for the first quarter of 2017-18 ending June 30 as against ₹ 719 crore posted during the corresponding previous quarter. A release from MRPL here said company’s refining throughput stood at 3.98 million tonnes (MMT) as against 3.66 MMT in the corresponding quarter of previous year.
The GRM (gross refining margin) for the quarter was posted at $4.74 /bbl (barrel) as against $10.01 /bbl during the corresponding quarter of previous year.
The company has posted a profit before tax of ₹332 crore as against ₹1,134 crore during the corresponding previous quarter. The decrease in profit is on account of reduction of prices of crude oil and finished products, resulting in inventory loss of ₹439 crore during the quarter, MRPL noted. As against this, the company had inventory gain of ₹ 859 crore in the corresponding previous quarter.
The company has achieved a turnover of ₹ 14,491 crore, including exports of ₹ 2,874 crore during the quarter as against ₹ 11,588 crore during the corresponding previous quarter.
