Mangalore Refinery and Petrochemicals Ltd (MRPL) recorded a net profit of ₹720.28 crore in the first quarter of 2016-17 against ₹405.52 crore in the corresponding period of previous fiscal, registering a growth of 77.62 per cent.
A press release by the company said the increased profit is on account of increased margins in the products coming out of the secondary units in phase-III and also from polypropylene unit.
The company’s refining throughput stood at 3.66 million tonnes in the first quarter of 2016-17 against 3.89 mt in the corresponding quarter of previous year. It exported 1.29 mt (1.03 mt) of products during the quarter.
The GRM (gross refining margin) for the quarter stood at $10.01 per barrel as against $6.62 during the corresponding quarter of previous year. (GRM is the difference between crude oil price and total value of petroleum products produced by the refinery.)
The gross turnover stood at ₹11,588 crore during the quarter against ₹13,706 crore in the first quarter of 2015-16. Of this, the share of exports stood at ₹3,380 crore (₹3,352 crore).