MRPL board approves Q3 FY 2023-24 financial results

Media Release

Mangaluru, Jan 23, 2024: 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 260th meeting held on January 22, approved it’s standalone and consolidated unaudited financial results for the third quarter (Q3 FY 2023-24) and nine months (IXM FY 2023-24) ended December 31, 2023.

 

Major Highlights for the Third Quarter (Q3 FY 2023-24):

• Phase 3 units and HCU 1 safely re-started post mandatory M & I

• Highest ever monthly gross crude input achieved during:

- Dec 23 - 1,558 TMT (Previous Highest was 1,557.3 TMT during Jan-16).

-Nov 23 -1,499 TMT (30 days basis) (Previous Highest 1,481 TMT during Apr-22).

• RLNG taken as input on long term basis.

• High Sulphur Fuel Oil procured (20 TMT) procured & processed for 1st

• Aromatic complex operated on Para-xylene mode for 20 days establishing the integrity & availability of the units. 20 TMT Px produced was exported.

• Highest ever loading of Coke through Rakes during any month (21 rakes), during the month of Dec 23.

• MRPL was honoured with the Platinum award under Occupational Health and Safety category by Grow Care India foundation during Oct

Financial Highlights for the Third quarter Q3 FY 2023-24 (Q3 FY 2022-23):

• Revenue from operations ? 28,383 Crore (Q3 FY 2022-23 ? 30,966 Crore).

• Profit before Tax ? 591 Crore (Q3 FY 2022-23 Loss before tax ? 288 Crore).

• Profit after Tax of ? 387 Crore (Q3 FY 2022-23 Loss after tax ? 188 Crore).

• GRM of 5.00 $/bbl (Q3 FY 2022-23 GRM of 3.88 $/bbl).

Financial Highlights for the Nine months IXM FY 2023-24 (IXM FY 2022- 23):

• Revenue from operations ? 76,060 Crore (IXM FY 2022-23 ? 95,335 Crore)

• Profit before Tax ? 3,755 Crore (IXM FY 2022-23 Profit before tax ? 1,289 Crore).

• Profit after Tax of ? 2,459 Crore (IXM FY 2022-23 Profit after tax ? 730 Crore).

• Total reduction in interest-bearing Long-Term Borrowings: ? 3,238 Crore (i.e., from ? 14,837 Crore as on March 31, 2023 to ? 11,599 Crore as on December 31, 2023).

• Debt Equity Ratio improved from 2.28 as on December 31, 2022 to 1.14 as on December 31, 2023.

Dividend

Board has approved interim dividend of 10%, i.e., ? 1 on each equity share of ? 10. The total payout on this account will be ? 175.26 Crore. The Record date for distribution of dividend has been fixed for February 2, 2024 which has been intimated to the stock exchanges.