The Mangalore Refinery and Petrochemicals Ltd. (MRPL) achieved the highest crude throughput of 4.51 million tonnes (MT) in a quarter during the last quarter of 2023-24 against the previous best of 4.42 MT in Q4 of 2015-16.
Approving the standalone and consolidated audited financial results for Q4 and the year 2023-24, the Board of Directors of MRPL also announced the Company posting ₹3,596 cr net profit in 2023-24 as against ₹2,638 posted during the financial year 2022-23. MRPL posted ₹1,137 crore net profit in Q4 of 2023-24 as against ₹1,908 crore posted in Q4 of 2022-23, said a release.
The last quarter of the financial year 2023-23 also saw several firsts for MRPL including processing of KGD6 crude from Kakinada in February and KGD98 crude from East Godavari Block in March. The refinery produced the highest ever aviation turbine fuel, 222.69 thousand tonnes in January as against 209.01 thousand tonnes in October 2022, and dispatched record highest ATF in February, 227.52 thousand tonnes while the previous highest was 222.1 thousand tonnes in March 2023.
MRPL delivered the first parcel of Mineral Turpentine Oil (MTO) in March while it recorded ever highest Polypropylene production in March, 43.73 thousand tonnes with the previous best being 43.27 thousand tonnes in October 2021. The Company achieved ever highest Reformate production in of January 2024, 104.23 thousand tonnes and ever highest Reformate dispatch in February, 130.43 thousand tonnes.
During the fourth quarter, MRPL commissioned its 103rd HiQ Retail Outlet. The Company earned ₹29,190 crore in revenue from operations as against ₹29,401 crore in Q4 of 2022-23 and achieved a gross refining margin of $11.35 per bbl. The GRM in 2022-23 Q4 had been $ 5.12 per bbl.
During the whole of 2023-23, MRPL recorded ₹1,05,223 crore revenue from operations as against ₹1,24,736 crore in 2022-23. The GRM was $ 10.36 per bbl as against $ 9.88 per bbl in 2022-23.
In addition to ₹1 interim dividend per share declared and paid in January, MRPL has announced a final dividend of ₹ 2 per share (20%) be paid on fully paid-up equity shares.
