Mangaluru, May 04: Mangalore Refinery and Petrochemicals Limited (MRPL) has recorded a profit after tax (PAT) of Rs 1,137 crore during the fourth quarter of the financial year 2023-24 against Rs 1,908 crore in the corresponding period of 2022-23.
The company recorded PAT of Rs 3,596 crore during the financial year 2023-24 against Rs 2,638 crore in 2022-23. MRPL recorded a gross refining margin (GRM) of $11.4 a barrel during the fourth quarter of 2023-24 as against a GRM of $15.1 a barrel in the corresponding period of 2022-23.
The revenue from operations stood at Rs 29,190 crore during the fourth quarter of 2023-24 against Rs 29,401 crore in Q4 of 2022-23. Revenue from operations was at Rs 1,05,223 crore for the financial year 2023-24 against Rs 1,24,736 crore in 2022-23.
The company’s debt equity ratio improved from 1.7 as on March 31, 2023, to 0.9 as on March 31, 2024.
The company had declared an interim dividend of Re 1 per share (10%) on Jan 22, 2024. In addition, the board of directors has proposed a final dividend of Rs 2 per share (20% ) for the year ended March 31, 2024, be paid on fully paid-up equity shares. A release stated that this final dividend shall be subject to approval by shareholders at the ensuing annual general meeting.
Dividend
The company had declared an interim dividend of ₹1 per share (10 per cent) on January 22, 2024. In addition to above, the board of directors has proposed a final dividend of ₹2 per share (20 per cent) for the year ended March 31, 2024, be paid on fully paid-up equity shares. The company informed stock exchanges that this final dividend shall be subject to approval by shareholders at the ensuing annual general meeting.
