MRPL's Q4 Net Profit Dips 72%

Mangalore Refinery and Petrochemicals Ltd. (MRPL) has recorded a net profit of Rs. 542-crore in the fourth quarter of 2017-18 against a profit of Rs. 1,942-crore in the corresponding period of the previous fiscal, registering a decline of 72 per cent. The gross refining margin (GRM) stood at $7.87 a barrel ($8.25 a barrel) during the period. GRM is the difference between the price of crude and the end products such as diesel, petrol, etc. The company achieved a turnover of Rs. 18,746-crore (Rs. 5,128-crore) during the January-March quarter of 2017-18 against Rs. 18,100-crore (exports Rs. 3,913-crore) in Q4 of 2016-17. A company press release said that the increase is mainly on account of the increase in the product prices during the Q4 of 2017-18 compared to the corresponding period of the previous fiscal. The total throughput of the refinery stood at 4.31 million tonnes during the fourth quarter of 2017-18 against 4.23 million tonnes in the corresponding period of previous fiscal.