News Karnataka
Saturday, February 24 2024
Business News

MRPL posts Rs 1,013 crore net profit in Q1 FY 2023-24

MRPL BoD approves its unaudited Q1 FY 23-24 results
Photo Credit : By Author

Mangaluru: The Board of Directors of Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary company of ONGC and Schedule “A” Mini Ratna Category I Company during its 257th Meeting held on July 28, 2023, approved its Standalone and Consolidated unaudited Financial Results for the First Quarter (Q1 FY 2023-24) ended June 30 2023.

Major Highlights for the First Quarter (Q1 FY 2023-24):
• Ever highest Refinery Net Throughput during first quarter: 4.36 MMT.
• Ever highest Capacity Utilization during first quarter: 116.26 per cent (installed capacity of 15.00 MMTPA).
• Highest ever MS (BSVI and Non BSVI) production per month at 229.9 TMT per month.
• Highest MS-VI Domestic Dispatch – 178 TMT, in the month of June- 2023.
• Retail expansion plan is put in place. As on June 30, 2023, 68 retail outlets have been commissioned.

Financial Highlights for the First Quarter Q1 FY 2023-24 (Q1 FY 2022-23):
• Gross revenue from operations Rs. 24,832 Crore (Q1 FY 2022-23 Rs. 35,915 Crore).
• Profit Before Tax Rs. 1,559 Crore (Q1 FY 2022-23 Profit before tax Rs. 4,153 Crore).
• Profit after Tax of Rs. 1,013 Crore (Q1 FY 2022-23 Profit after tax Rs. 2,707 Crore).
• GRM of 9.81 $/bbl (Q1 FY 2022-23 GRM of 24.45 $/bbl).
• Total reduction in interest-bearing Borrowings: Rs. 1,557 Crore (i.e. from Rs. 16,550 Crore as on March 31 2023 to Rs. 14,993 Crore as on June 30, 2023).

• Total reduction in interest bearing Borrowings: Rs. 3,538 Crore (i.e. from Rs. 18,531 Crore as on June 30 2022 to Rs. 14,993 Crore as on June 30, 2023).

 The Gross Revenue from operations and Profit for Q1 FY 2023-24 are lower than corresponding figures for Q1 FY 2022-23 as the product prices in Q1 FY 2023-24 were much lower than those for Q1 FY 2022-23.
Physical and Financial Performance:


MRPL PRESS RELEASE Q1 FY 23 24 page 0002 inner

Share this:
Media Release

Read More Articles
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Find the best odds at 10Cric and IPL Betting 2023! Signup today and get up to a 100% deposit bonus.

To get the latest news on WhatsApp