Mangalore Refinery and Petrochemicals Limited (MRPL) recorded a profit after tax of ₹65.57 crore during the first quarter of 2024-25 against a profit after tax of ₹1,012.74 crore in the corresponding period of 2023-24, down by 93.53 per cent.
The board of directors of MRPL on Monday approved its limited reviewed standalone and consolidated financial results for the first quarter ended June 30, 2024.
Gross refining margin (GRM) of the company stood at $4.70 a barrel in Q1 of 2024-25 against $9.81 a barrel in the corresponding period of the previous fiscal. (GRM is the difference between the price of crude oil and the end products.)
Total throughput of the refinery was at 4.35 million tonnes during April-June 2024-25 against 4.36 million tonnes in the same period of the previous year.
Revenue from operations reached ₹27,289 crore in Q1 FY25 (₹24,825 crore in Q1 FY24). Company’s exports stood at ₹7,564 crore (₹6,907 crore) in the first quarter of FY25.
MRPL processed highest ever crude of 1,593.2 thousand metric tonnes (TMT) in May 2024. Previous highest was 1,557.3 TMT in January 2016.
In June, the company processed Varandey crude from Russia and Eocene crude from Saudi-Kuwait Neutral Zone for the first time. In April, it processed Kaliningrad crude from Russia for the first time.
Debt-equity ratio of MRPL improved from 0.94 as on March 31, 2024 to 0.89 as on June 30, 2024.
On BSE, the scrip of MRPL closed at ₹214.75 on Monday against the previous close of ₹216.30, down by 0.72 per cent.