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Mangalore Refinery and Petrochemicals Ltd (MRPL) has recorded a net profit of ₹542 crore in the fourth quarter of 2017-18 against a profit of ₹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 ₹18,746 crore (₹5,128 crore) during the January-March quarter of 2017-18 against ₹18,100 crore (exports ₹3,913 crore) 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.
The board of the directors has recommended dividend of ₹3 per equity share of face value of ₹10 each to the shareholders.
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