MRPL declares first quarter of year 2020 results
The Board of Directors of Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary company of ONGC and scheduled 'A' Mini Ratna Category 1 Company during its 226th meeting held on August 3, 2019, approved its unaudited financial results (standalone and consolidated) for the first q
The Board of Directors of Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary company of ONGC and scheduled 'A' Mini Ratna Category 1 Company during its 226th meeting held on August 3, 2019, approved its unaudited financial results (standalone and consolidated) for the first quarter (Q1 FY 20). MRPL has declared its Q1 FY'2020 results with registering net loss of Rs 500 crore and negative GRM of 0.42$/bll. Reason for low GRM is mainly due to the refinery complex facing unprecedented water scarcity affecting plant operation nearly for a month and half. Net profit of Rs 362 crore and GRM of 8.28$/bbl for Q1 FY'19. Besides, gross revenue from operations Rs 11, 200 crore; loss before tax Rs 763 crore and negative GRM 0.42 $/bbl for the quartr Q1 FY'20. Gross revenue from operations Rs 16,583 crore; Profit before tax Rs 562 crore and GRM 8.28 $/bbl for Q1 FY 19. The company continues its foray in to direct marketing by going for more retail outlets to expand its operation.
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