MRPL profit leaps to 92% in Q3

Mangalore Refinery and Petrochemicals Ltd (MRPL) recorded a profit of ₹566 crore in the third quarter of 2016-17 against a profit of ₹295 crore in the corresponding period of 2015-16, a growth of 91.86 per cent. H Kumar, Managing Director, attributed this growth to the increase in the throughput of the refinery, gross refining margin (GRM) and to the inventory gain during the quarter. The throughput increased to 4.35 million tonnes during the Q3 against 3.82 mt during the corresponding period of the previous fiscal. The gross refining margin stood at $7.43 a barrel during the third quarter against $4.83 a barrel during Q3 of 2015-16. Our Bureau