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New Delhi, Jan. 16 Mangalore Refinery & Petrochemicals Ltd (MRPL) has recorded a 194 per cent increase in net profit and 11 per cent rise in turnover during the third quarter of the current financial year against the corresponding quarter last year. The company’s net profit for the quarter under review stood at Rs 347 crore (Rs 118 crore).

According to the company, the net profit for the quarter is after providing for interest and finance charges of Rs 36 crore (Rs 51 core), depreciation of Rs 95 crore (Rs 89 crore) and tax provision of Rs 101 crore (Rs 99 crore). The turnover was higher at Rs 9,324 crore (Rs 8,403 crore).

Throughput during the quarter was 10 per cent lower at 3.02 mt (3.36 mt) due to turnaround of some of the secondary processing units taken in November – December 2007. The turnaround was completed 5 days ahead of schedule.

The performance of the company during the nine months period ended December 31, showed that the gross turnover was 8 per cent higher at Rs 26,671 crore (Rs 24,586 crore) and throughput rose one per cent to 9.40 mt (9.31 mt).

The net profit during the nine-month period was up 204 per cent at Rs 1,047 crore.

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