MRPL Posts ₹1,908 Cr. Profit After Tax In Q4 Of 2022-23 As Against ₹3,008 Cr. In Q4 Of 2021-22

The Board of Directors of Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary company of ONGC and Schedule “A” Mini Ratna Category I Company during its 257th Meeting held on July 28, 2023, approved it’s Standalone and Consolidated unaudited Financial Results for the First Quarter (Q1 FY 2023-24) ended June 30, 2023.

Major Highlights for the First Quarter (Q1 FY 2023-24):

· Ever highest Refinery Net Throughput during first quarter: 4.36 MMT.
· Ever highest Capacity Utilization during first quarter: 116.26 % (installed capacity of 15.00 MMTPA).
· Highest ever MS (BSVI and Non BSVI) production per month at 229.9 TMT per month.
· Highest MS-VI Domestic Dispatch – 178 TMT, in the month of June-2023.
· Retail expansion plan is put in place. As on June 30, 2023, 68 retail outlets have been commissioned.

Financial Highlights for the First quarter Q1 FY 2023-24 (Q1 FY 2022-23):

· Gross revenue from operations 24,832 Crore (Q1 FY 2022-23 35,915 Crore).
· Profit before Tax 1,559 Crore (Q1 FY 2022-23 Profit before tax 4,153 Crore).
· Profit after Tax of 1,013 Crore (Q1 FY 2022-23 Profit after tax 2,707 Crore).
· GRM of 9.81 $/bbl (Q1 FY 2022-23 GRM of 24.45 $/bbl).
· Total reduction in interest bearing Borrowings: 1,557 Crore (i.e. from 16,550 Crore as on March 31, 2023 to 14,993 Crore as on June 30, 2023). Page 2 of 2 · Total reduction in interest bearing Borrowings: 3,538 Crore (i.e.
from 18,531 Crore as on June 30, 2022 to 14,993 Crore as on June 30, 2023).

The Gross Revenue from operations and Profit for Q1 FY 2023-24 are lower than corresponding figures for Q1 FY 2022-23 as the product prices in Q1 FY 2023-24 were much lower than those for Q1 FY 2022-23.