MRPL posts ₹2,707 crore net profit in Q1, commissions four new retail outlets

Mangalore Today News Network

Mangaluru, July 30, 2022: Recording the highest-ever Q1 throughput of 4.29 million metric tonnes per annum (MMTPA) with 114.34% capacity utilisation, refining major Mangalore Refinery and Petrochemicals Ltd. (MRPL) on July 28 declared a ₹2,707 crore net profit during April-June 2022 as against ₹230 crore net loss during Q1 of 2021-22.

 

MRPL’s Board of Directors approved the company’s standalone and consolidated unaudited financial results for the first quarter (Q1 FY23) ending June 30, 2022. The company said the previous best capacity utilisation in Q1 was 3.98 MMTPA with a capacity utilisation of 106.13% in 2017-18. The company has been consistently achieving capacity utilisation beyond 100% — 115.94% in Q3 FY2021-22 and 116.74% in Q4 FY2021-22.

The refinery achieved the highest-ever high-speed diesel dispatch of 737 thousand metric tonnes (TMT) in May 2022 (the previous highest was 665 TMT in March 2022). This achievement was made possible by the commissioning of new HSD tanks and new HSD product evacuation facilities.

It produced the highest-ever 615 TMT ‘BS VI motor spirit (petrol) and MS 95 (non-BS VI quality)‘ streams in this Q1 (average 205 TMT per month).

MRPL achieved the highest-ever ‘BS VI motor spirit and MS 95 (non-BS VI quality)‘ production of 211 TMT in June 2022 (previous highest was 204 TMT in March 2022).

The refinery has processed new crudes, namely Kuwait Super Light crude (Kuwait API 48.91) and Khafji crude (Neutral Zone API 29.07) during the quarter.

The company has obtained recognition from the Department of Scientific and Industrial Research (DSIR) for its in-house R&D facility in the current quarter.

During Q1, MRPL commissioned four new retail outlets taking the total number of outlets to 36.

Courtesy: The Hindu