Mangalore Refinery and Petrochemicals Ltd. (MRPL) has achieved the highest-ever throughput of 4.12 million metric tonnes (MMT) during the fourth quarter (Q4) of 2014-15, as against 3.84 MMT produced during the corresponding period in 2013-14.
It posted a net profit of Rs. 1,170 crore in Q4 as against Rs. 1,067 crore during last fiscal’s Q4.
The company, a subsidiary of Oil and Natural Gas Corporation Ltd. (ONGC), declared its audited financial results for the Q4 and for the financial year 2014-15 in New Delhi on Friday.
During 2014-15, the company recorded a throughput of 14.65 MMT as against 14.55 MMT recorded last fiscal. The turnover stood at Rs. 62,412 crore as against Rs. 75,226 crore last year. The decline in turnover value was due to steep fall in product prices, the release said. The operating performance was impacted by a decline in inventory values of crude.
As a result, the after-tax loss stood at Rs. 1,712 crore during 2014-15 as against Rs. 601 crore profit during the last fiscal. The loss was after considering Rs. 499 crore depreciation, Rs. 407 crore interest cost, Rs. 683 crore foreign exchange loss and Rs. 2,751 crore inventory loss, the release said. The company has retained its market presence in its Refinery zone for products (bitumen and sulphur) and has also been able to get a good market reach for petcoke.
