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Jul 27, 2012, 03.22 PM IST
State-owned Mangalore Refinery and Petrochemicals (MRPL) has posted a net loss of Rs 1,521 crore in the quarter ended June 2012 as against profit of Rs 203 crore in a year ago period. The company said the operating performance was hurt by refinery production in April.
The loss was also due to rupee depreciation that fell nearly 8% against the US dollar. MRPL also reported a forex loss of Rs 649 crore in the April-June quarter. Gross refining margin (GRM) too turned negative at USD 4.15 a barrel as against a positive USD 3.72 a barrel year-on-year. Throughput during the quarter declined 12.4% YoY to 2.89 mt from 3.3 mt.
Mangalore Refinery and Petrochemicals
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