Comments
Mangalore Refinery and Petrochemicals Ltd (MRPL) recorded a profit after tax of Rs 313.76 crore during the third quarter of current financial year, as against Rs 259.54 crore in the corresponding period of the previous fiscal, recording a growth of 20.89 per cent.
During the quarter, the company recorded an inventory gain of Rs 474 crore, as against Rs 299 crore in the corresponding period of the previous fiscal.
The gross refining margin (GRM) of the company stood at $6 a barrel of crude processed ($4.55).
The company, which achieved crude throughput of 3.49 mt (3.40 mt), recorded a turnover of Rs 11,620.83 crore (Rs 10,274.25 crore).
On Tuesday, the share of MRPL closed at Rs 67 on the BSE, against the previous closing of Rs 69.15.
PHASE-III
A company release said here on Tuesday, that the Rs 13,964-crore third phase expansion project is progressing ahead of schedule.
The project has achieved physical progress of 72.90 per cent as on January , against the scheduled plan progress of 71.40 per cent.
In respect of the poly propylene unit, the physical progress has been 44.20 per cent, as on January .
Iran crude
The company continues to get supply of Iran crude, and, in respect of future purchases, efforts are being made to arrive at a working solution.
The release added that the company has entered into a long-term settlement with the employees' union, in revising the wages effective from April 1, 2007.
This agreement will be valid for a period of 10 years.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.