[ad_1]
Mangalore Refinery and Petrochemicals Ltd., (MRPL) on Wednesday announced registering ₹1,059 crore net profit during the second quarter of 2023-24 as against ₹1,789 crore loss reported during the same period in 2022-23.
The company also announced earning ₹2,072 crore net profit during the half year ending September 30, 2023 as against ₹918 crore net profit reported during the same period in 2022-23, said a release.
The board of directors approved the standalone and consolidated unaudited financial results for Q2 of 2023-24 and half year ending September 30.
During this July, the company achieved a record highest gross crude throughput of 1,438.5 thousand metric tonnes (TMT) surpassing the previous record of 1,428.4 TMT set in July 2019.
Ever highest Reformate dispatch of 102.2 TMT recorded in of July (Previous highest was 89.4 TMT during Oct-2022).
There was the highest MS-VI (petrol) production – 195 TMT in August (174 TMT in June-23) and highest MS-VI Domestic Dispatch-188 TMT in July (178 TMT in June 23).
MRPL earned ₹22,844 crore revenue from operations in Q2 of 2023-24 as against ₹28,453 crore in Q2 of 2022-23. The gross refining margin (GRM) was 17.11 $/bbl in the current Q2 as against 4.46) $/bbl in the previous fiscal. The total revenue earned from operations during the half year of 2023-24 was ₹47,676 crore (H1 FY 2022-23 ₹64,368 crore).
The company plans to expand its retail business under its HiQ brand by achieving 1 million tonnes sales in the next three to five years to improve its retail marketing footprint, the release said.
Additionally, recognising the evolving energy landscape toward renewable energy, MRPL was strategically looking into green fuels and future expansion configuration studies to further improve its profitability.
[ad_2]
Source link
