The Mangalore Refinery and Petrochemicals Ltd (MRPL) on Friday, April 28, announced registering ₹1,908 crore profit after tax during the 4th quarter of 2022-23 as against ₹3,008 crore registered in Q4 of 2021-22.
A release here said MRPL’s Board of Directors approved the Standalone and Consolidated Audited Financial Results of Q4 and the financial year 2022-23 at the 254th meeting held on Friday.
The company recorded profit after tax of ₹2,638 crore for 2022-23, against a profit of ₹2,955 crore in 2021-22, a decline of 10.73%.
MRPL’s gross refining margin (GRM) was at $9.88 a barrel in 2022-23, against $8.60 a barrel in 2021-22. The GRM was at $15.12 a barrel during Q4 of 2022-23, against $15.28 a barrel in Q4 of 2021-22.
During the year under report, MRPL recorded the highest throughput and turnover. Total throughput increased to 17.14 million tonnes in 2022-23, against 15.04 mt in 2021-22. Total turnover increased to ₹1,24,686 crore in 2022-23, from ₹86,067 crore in 2021-22, an increase of 45%. Its export earnings stood at ₹44,509 crore in 2022-23, against ₹31,533 crore in 2021-22.
Regarding the impact of windfall tax on export of motor spirit (MS), high-speed diesel (HSD) and aviation turbine fuel (ATF), the release said the Special Additional Excise Duty and Road and Infrastructure Cess levied on export of HSD, ATF and MS effective from July 1, 2022, has correspondingly reduced the domestic refinery transfer price. The company has made a representation to the Government in this regard.
MRPL added 31 retail outlets in 2022-23, taking the total to 63 as on March 31, the release added.
