MRPL posts net profit of Rs 969 crore in Q3 of FY’2021-22

New Delhi: The Board of Directors of Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary company of ONGC and Miniratna PSU under the Ministry of Petroleum & Natural Gas (MoPNG), during its 242nd meeting held on January 28, 2022, has approved its standalone and consolidated unaudited financial results for the third quarter (Q3 FY'22) and nine months ended December 31, 2021. Here are the financial highlights of the company-

Financial Highlights for Q3 FY'2021-22

During the third quarter of the current financial year (Q3 FY'22), MRPL registered a net profit of Rs 969 crore against a loss of Rs 76 crore in the corresponding period in 2020-21. While profit before tax was Rs 1,493 crore against a loss before tax of Rs 111 crore in Q3 FY'2020-21.

The gross revenue from the operations rose to Rs 25,238 crore against Rs 14,136 crore in Q3 of the ongoing financial year.

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

Financial highlights for nine months from April 2021 to December 2021

During the three-quarters of FY'2021-22, MRPL registered a net profit of Rs 640 crore against a net loss of Rs 569 crore in the same period of the previous financial year (FY'2019-20). The gross revenue has also increased to Rs 58,078 crore against Rs 30,231 crore in the corresponding period of the last financial year.

Other major highlights for Q3 FY'22

During the third quarter (Q3 FY'22), MRPL has achieved crude throughput of 116.44 percent of the capacity utilization.  The fuel and loss during the Q3 FY'22 were one of the lowest, the energy performance measure in terms of MBN was lowest during any quarter.

The refinery has also commissioned FCC Gasoline Treatment Unit as a part of the BSVI project and stabilized and operated beyond 100 percent of design capacity producing an additional about 25 TMT (thousand metric tonnes) per month of motor spirit.

During the period, MRPL has achieved the highest ever LPG dispatch. The commissioning of the desalination plant was completed in December 2021, which will mitigate one of the major risks faced by the company with respect to water availability.

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