MRPL net profit tanks 40.41% in Q4FY24 year-on-year, final dividend of Rs 2 declaredPSU Watch

MRPL net profit tanks 40.41% in Q4FY24 year-on-year, final dividend of Rs 2 declared

MRPL has reported a 40.41 percent decline in net profit year-on-year in Q4 FY2023-24 at Rs 1,136.84 crore

New Delhi: Mangalore Refinery and Petrochemicals Ltd (MRPL) has reported a 40.41 percent decline in net profit year-on-year in Q4 FY2023-24 at Rs 1,136.84 crore. The net profit in the corresponding quarter of FY 2022-23 was 1,907.98 crore. On quarter-on-quarter basis, the PSU has, however, posted a 193.71 percent jump in Profit after Tax (PAT). The figure for the December quarter of FY24 was Rs 387.06 crore.

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For the entire financial year 2023-24, MRPL has recorded a jump of 36.3 percent in net profit as the figure went up from Rs 2,638.39 crore in FY2022-23 to Rs 3,595.93 crore in FY2023-24.

MRPL’s revenue from operations dipped 0.71% in Q4 of FY24 y-o-y

The company’s revenue from operations declined 0.71 percent in Q4 of FY2023-24 at Rs 29,190.05 crore, which was lower in comparison to Rs 29,401.49 crore recorded in Q4 of FY23. On quarter-on-quarter basis, there was a rise of nearly 3 percent as the company recorded Rs 28,364.37 crore in revenue from operations in December quarter of FY2023-24.

At the operating level, EBITDA tanked 33.3 percent to Rs 2,329.7 crore in the March quarter of FY24 as opposed to Rs 3,490.2 crore recorded in the corresponding period of FY23. The EBITDA margin stood at 9.2 percent in the quarter under review as compared to 13.8 percent in the corresponding period of FY23.

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The Board of Directors have recommended a final dividend of Rs 2 per share (20 percent) which works out to Rs 350.52 crore, subject to approval by the members of the company. The final dividend will be paid within 30 days from the date of declaration at the AGM. The record date for payment of the final dividend will be fixed and intimated in due course.

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MRPL

Q4 FY'24