Mangalore Refinery and Petrochemicals Limited (MRPL) registered a ₹387 crore net profit during the third quarter (Q3) of 2023-24 against ₹188 crore net loss posted during Q3 of 2022-23.
The Board of Directors of the company approved its stand-alone and consolidated unaudited financial results for the Q3 of 2023-24 and nine months ending December 31, 2023 at its 260th meeting.
MRPL earned ₹28,383 crore revenue from operations in Q3 2023-24 against ₹30,966 crore in Q3 of 2022-23. The Gross Refining Margin stood at $5/bbl against $3.88/bbl during the corresponding period in the previous fiscal.
Performance highlights
During Q3 of 2023-24, MRPL achieved the highest ever coke loading during any month in December by loading 21 rakes. The company achieved the highest-ever monthly gross crude input of 1,499 thousand metric tonnes (30 days basis) in November 2023 against the previous 1,481 TMT in April 2022, followed by 1,558 TMT in December against the previous highest of 1,557.3 TMT in January 2016.
MRPL began taking Regasified Liquefied Natural Gas (RLNG) on a long-term basis while it procured and processed 20 TMT High Sulphur Fuel Oil for the first time. Its aromatic complex operated on para-xylene mode for 20 days establishing the integrity and availability of the units while 20 TMT Px produced was exported.
The company was honoured with the platinum award under Occupational Health and Safety category by Grow Care India foundation in October 2023.
During the nine months ending December 31, 2023, MRPL posted ₹2,459 crore net profit against ₹730 crore net profit during the corresponding period in 2022-23. Revenue from operations stood at ₹76,060 crore against ₹95,335 crore in 2022-23.
The board has approved an interim dividend of 10%, that is, ₹1 on each equity share of ₹10. The total payout on this account will be ₹175.26 crore. The record date for distribution of dividend has been fixed for February 2.
