Companies

MRPL posts ₹328-crore profit in fourth quarter

Our Bureau Mangaluru | Updated on May 17, 2021

Refinery throughput rises to 4.03 mt

Mangalore Refinery and Petrochemicals Ltd (MRPL) recorded profit after tax (PAT) of ₹328 crore during the fourth quarter of 2020-21, against a loss of ₹1,629 crore in the corresponding period of 2019-20.

A press release from the company said here on Monday that it recorded a GRM (gross refining margin) of $6.50 a barrel during the fourth quarter against a negative GRM of $4.52 a barrel in the corresponding period of the previous fiscal.

(GRM is the difference between the price of crude and the end products such as diesel, petrol, etc.) The total throughput of the refinery stood at 4.03 million tonnes (3.83 million tonnes).

Gross turnover stood at ₹20,756 crore (₹17,540 crore), and exports at ₹3,903 crore (₹3,105 crore).

Covid impact

The company said the outbreak of Covid-19 pandemic globally and resultant lockdown in many countries has impacted its business.

Consequently, lower demand for crude oil, petroleum and petrochemical products has impacted the prices and refining margin globally during the part of the year.

This resulted in reduction in sales. The capacity utilisation gradually improved subsequently.

Published on May 17, 2021

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