MRPL Q3 net profit rises to Rs 969 crore, gross revenue from operations at Rs.25,238 cr

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

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

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.

The company achieved crude throughput of 116.44 percent in capacity utilisation.

Highest production of polypropylene and petrol was achieved in October and December of Q3 of 2021-22, the company said.

The company added that demand for petroleum products was lower during the first half of 2021-22 due to COVID-19 related lockdowns, resulting in lower crude throughput.