Mangalore Refinery and Petrochemicals Ltd (MRPL) registered a loss of ₹81.16 crore in the second quarter of 2018-19 as against a net profit of ₹477.95 crore in the corresponding period of 2017-18.

Its gross turnover stood at ₹17,723 crore (including exports of ₹7,876 crore) during the second quarter of 2018-19 as against ₹12,414 crore (including exports of ₹3,237 crore) during Q2 of 2017-18.

The GRM (gross refining margin) of the refinery for the second quarter of 2018-19 stood at $4.41 a barrel as against $8.05 in the corresponding quarter of the previous fiscal. In rupee terms, the GRM works out to around ₹886 crore (₹1,341 crore) in second quarter. (GRM is the difference between the price of crude and the end products such as diesel, petrol, etc.)

The throughput at the refinery during the second quarter of 2018-19 was at 3.91 million tonnes (3.53 mt).

A press release said here on Wednesday the company has increased its strong market presence by way of direct marketing of its products such as petcoke, sulphur and polypropylene. The company is increasing the product grades of polypropylene to enhance the market share and thereby fetch higher margins, it added.

On Wednesday, the scrip of MRPL closed at ₹81.80 on the BSE, up 0.68 per cent, against the previous close of ₹81.25.

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