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Mangalore Refinery and Petrochemicals Ltd (MRPL) recorded a profit after tax of ₹1,059 crore during the second quarter of 2023-24 against a loss after tax of ₹1,789 crore in the corresponding period of the previous fiscal.
The company informed the stock exchanges that revenue from operations stood at ₹22,844 crore during Q2 of 2023-24 as against ₹28,453 crore in second quarter of the previous fiscal.
Gross refining margin (GRM) of the refinery stood at $17.11 a barrel in Q2 of FY24 against negative GRM of $4.46 a barrel in the corresponding period of 2022-23. (GRM is the difference between the price of crude oil and the end products.)
The company said that a record highest gross crude throughput of 1,438.5 TMT was achieved in July 2023, surpassing the previous record of 1,428.4 TMT set in July 2019.
The refinery had taken the mandatory maintenance and inspection shutdown of phase-III during August-September. All the activities have been completed.
The total reduction in interest bearing long-term borrowings was at ₹2,158 crore during the second quarter of 2023-24. Interest bearing long-term borrowings, which were at ₹13,783 crore as on June 30, have come down to ₹11,625 crore as on September 30.
On Tuesday, the scrip of MRPL closed at ₹103.84 on BSE against the previous close of ₹105.80, down by 1.85 per cent.
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