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MRPL Q3 profit rises to Rs 969 crore

The gross revenue from operations stood at Rs 25,238 crore during Q3 of 2021-22 against Rs 14,136 crore in the third quarter of 2020-21.

January 30, 2022 / 05:56 PM IST
Representative Image

Representative Image

The Mangalore Refinery and Petrochemicals Limited (MRPL) posted a net profit of Rs 969 crore during the third quarter of 2021-22 against a loss of Rs 76 crore in the corresponding period in 2020-21.

The gross revenue from operations stood at Rs 25,238 crore during Q3 of 2021-22 against Rs 14,136 crore in the third quarter of 2020-21. Multiple initiatives have been taken to improve revenue from marketing margins in domestic, exports and business-to-business (B2B) arrangements, a company release here said.

The gross refining margin (GRM) of the company stood at Rs 9.29 a barrel during Q3 of 2021-22 as against Rs 3.26 a barrel in the corresponding period of the previous year.

GRM is the difference between the price of crude oil and the end products. The throughput of the refinery was 4.37 million tonnes (MT) during the reporting quarter as against 3.08 MT in the corresponding period in 2020-21. The company achieved crude throughput of 116.44 percent in capacity utilisation.