Mangalore Refinery and Petrochemicals Ltd (MRPL) has registered a loss of ₹951.47 crore during the second quarter of 2014-15 fiscal against a profit of ₹235.77 crore in the corresponding period of the previous fiscal.
A press release by the company said here on Thursday that the company posted loss due to higher fuel consumption on account of stabilisation of newly added units and also higher inventory loss. It also recorded lower physical performance during the period.
Throughput of the refinery came down by 6 per cent during the quarter. It achieved a throughput of 3.47 million tonnes (3.69 million tonnes) during Q2 of 2014-15. The company attributed the decrease in throughput to plant upsets while commissioning of new units, resulting in non-availability of secondary processing units.
Gross refining margin
The company recorded a negative gross refining margin (GRM) of $4.04 a barrel during the second quarter of 2014-15 against a positive GRM of $ 5.04 a barrel during the corresponding period of 2013-14. (GRM is the difference between the prices of crude and end products such as diesel, petrol, etc.)
The company suffered a net foreign exchange loss of ₹482 crore during the second quarter of this fiscal against the net foreign exchange loss of ₹249 crore during the second quarter of 2013-14.