Coal News We love to talk!

MAY 16 2018

MRPL net profit down by 72% in Q4

  • Economic Times, ET Bureau / Hyderabad
  • Created: Wed 16th MAY 2018

 

Mangalore Refinery and Petrochemicals Ltd (MRPL), a subsidiary of Oil and Natural Gas Corporation (ONGC), on Tuesday reported a 72 per cent fall in its standalone net profit to Rs 542.08 crore in the quarter ended March 31, 2018 as compared to Rs 1,942.42 crore in the year-ago period.

The company said it posted the net profit after considering Rs 162 crore as depreciation, Rs 112 crore as interest cost and net foreign exchange loss of Rs 147 crore during the three months ended March.

During the quarter under review, MRPL has achieved a turnover of Rs 18,746 crore, up 4 per cent from Rs 18,100 crore in the corresponding period previous year. Its exports revenue grew by 31 per cent to Rs 5,128 in the March quarter of 2017-18, as against Rs 3,913 crore in the year-ago period.

"The company has achieved turnover of Rs 63,067 crore (exports of Rs 16,996 crore) during 2017-18 as against Rs 59,415 crore (exports of Rs 14,457 crore) during the 2016-17," it said in a statement.

It has posted net profit of Rs 2,224 crore (after considering Rs 671 crore as depreciation, Rs 440 crore as interest cost and net foreign exchange gain of Rs 13 crore), as against profit after tax of Rs 3,644 crore during FY17.

The company has achieved highest-ever throughput of 16.31 MMT for the FY18 as against 16.27 MMT the previous year.

Its gross refining margin for March quarter stood at US $7.87 a bbl as against US $8.25 per bbl in corresponding quarter of previous year and US $7.54 per bbl for FY18 as against US $7.75 a bbl in previous year.

Tags

Mangalore Refinery And Petrochemicals Limited Gas Natural Gas Oil ONGC Refinery United States Tax ongc

Related News

  • ONGC sees Rs15,000 crore of oil output a year from KG basin block  Read more
  • Consult Election Commission on gas price hike, says Montek Singh Ahluwalia  Read more
  • Haventdenied cover to any refinery, says GIC Re  Read more
  • ICVL hopes coal block deal by FY14, no new partner after NTPC  Read more
  • ONGC may rope in Japanese firm for developing KG block  Read more
  • IRDA wants LIC in energy insurance pool for Iran  Read more
  • US based energy giant has "clear aspirations" to grow in India  Read more
  • Karnataka to ban export of power by private sector power generating companies under STOA deal  Read more
  • CPCL looks at bringing equity funding from Iranian promoter  Read more
  • Modi discusses oil and gas investments with global experts  Read more