The Mangalore Refineries and Petrochemicals Ltd., (MRPL) reported a net profit of Rs. 1,148 crore during the financial year 2015-16 as against the loss of Rs. 1,712 crore reported during 2014-15 even as it has achieved a throughput of 15.69 million tonnes as against 14.65 million tonnes achieved in the previous fiscal.
The results were declared recently in Bengaluru after the board meeting. A release here said MRPL achieved a turnover of Rs. 50,864 crore, including exports worth Rs. 12,616 crore, during 2015-16 as against Rs. 62,412 crore (Rs. 22,790 crore worth of exports) during the previous year. The decrease in sales revenue was due to decline in product prices on account of declined crude prices, it said.
Meanwhile, its Q4 profits too saw an increase wherein MRPL reported Rs. 1,353 crore profit after tax during January-March 2016, as against Rs. 1,712 crore profit posted during the same period previous year.
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It posted gross revenue of Rs. 13,477 crore during Q4 of 2015-16 as against Rs. 13,156 crore during the corresponding period the previous year. The release said MRPL could evacuate more products in domestic market thereby reducing the dependency on exports for evacuation of the products. Due to marketing initiatives, the domestic evacuation by way of direct marketing sales during Q4 of 2015-16 was 0.57 MT as against 0.27 MT in Q4 of 2014-15. This increase is mainly on account of products like Polypropylene, Pet Coke, Bitumen and Sulphur.
The throughput was 15.69 million tonnes as against the
14.65 million tonnes in last fiscal