Mangalore Refinery and Petrochemicals Q4 net profit at Rs 318.87 crore

Mangalore Refinery and Petrochemicals Q4 net profit at Rs 318.87 crore

The polypropylene production stood at 388 KT for 2018-19

Mangalore Refinery and Petrochemicals Ltd (MRPL) recorded a net profit of 318.87 crore in the fourth quarter of 2018-19 as against a profit of 542.08 crore in the corresponding period of the previous fiscal, registering a decline of 41.17 per cent.

The gross refining margin GRM of the company stood at $5.01 a barrel ($7.87 a barrel) during the period. (GRM is the difference between the price of crude and the end products such as diesel, petrol, etc.)

The total throughput of the refinery stood at 4.29 million tonnes during the fourth quarter of 2018-19 as against 4.31 million tonnes in the corresponding period of previous fiscal.

The gross turnover of the company stood at 17744 crore (exports at 6955 crore) during the fourth quarter of 2018-19 as against 18746 crore (exports at 5128 crore) during January-March quarter of 2017-18.

The net profit of the company stood at 331.95 crore for the fiscal 2018-19 as against 2224.12 crore for the financial year 2017-18.

The board of directors of Mangalore Refinery and Petrochemicals Ltd (MRPL), which met in New Delhi on Monday to approve the annual audited financial results for 2018-19, has recommended dividend of 1 per equity share of face value of 10.

A press release by MRPL said here on Tuesday that the company has continued its strong market presence by way of direct marketing of its products such as petcoke, sulphur and polypropylene.

The product grades of polypropylene have been increased to enhance polypropylene market share and thereby fetch higher margins. The polypropylene production stood at 388 KT for 2018-19.

Efforts are on to increase presence in retail segment by setting up new retail outlets, the release said.

Source: https://www.thehindubusinessline.com/markets/stock-markets/mangalore-refinery-and-petrochemicals-board-recommends-dividend/article27124505.ece

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