Mangalore Refinery and Petrochemicals Ltd (MRPL) recorded a net profit of ₹720.28 crore in the first quarter of 2016-17 as against a profit of ₹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 here on Saturday that 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 (mt) 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 refining throughput during the quarter was lower compared to corresponding quarter of previous year on account of water stoppage from Netravathi River.
On Friday, the scrip of MRPL closed at ₹79.30 on the BSE, down 1.06 per cent, against the previous close of ₹80.15.