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MRPL announces Q4, FY18 results

Posted On: 2018-05-16 10:23:28

The Board of Directors of Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary Company of ONGC and Schedule "A" Mini Ratna Company, approved its audited Financial Results for the fourth quarter (Q4 FY17-18) of Financial Year FY17-18 along with the Audited Financial Results for FY17-18.

The Company's GRM for Q4 FY17-18 stood at US $ 7.87/bbl as against US $ 8.25/bbl in corresponding quarter of previous year and US $ 7.54/bbl for FY17-18 as against US $ 7.75/bbl in corresponding previous year.

The Company has posted Profit after Tax for the quarter Q4 FY17-18 of Rs. 542 crore as against Rs. 1,942 crore and Rs. 2,224 crore for FY17-18 as against Rs. 3,644 crore in the corresponding previous year FY16-17.

The Company has achieved highest ever Throughput of 16.31 MMT for the FY 17-18 as against 16.27 MMT during last FY16-17.

The company has achieved turnover of Rs. 63,067 Crore (exports Rs. 16,996 Crore) during FY17-18 as against Rs. 59,415 Crore (exports Rs. 14,457 Crore) during the FY16-17 (overall increase by 6% and Exports by 18%). The increase in Turnover is on account of increase in throughput and also due to increase in product prices.

MRPL has posted Profit After Tax (PAT) of Rs. 2,224 Crore (after considering Rs. 671 Crore as Depreciation, Rs. 440 Crore as Interest Cost, Net Foreign Exchange gain of Rs. 13 Crore), as against PAT of Rs. 3,644 Crore during FY16-17. The exceptional income of Rs. 1,597 Crore considered in arriving the PAT during FY16-17 was on account of exchange rate variation gain arising out of settlement of trade payables.

Q4FY17-18 results

MRPL has posted Profit After Tax (PAT) for Q4 FY17-18 of Rs. 542 Crore (after considering Rs. 162 Crore as Depreciation, Rs. 112 Crore as Interest Cost, Net Foreign Exchange loss of Rs. 147 Crore), as against PAT of Rs. 1,942 Crore for Q4 FY16-17.

MRPL has achieved Turnover of Rs. 18,746 Crore (exports Rs. 5,128 Crore) for the Q4 FY17-18 as against Rs. 18,100 Crore (exports Rs. 3,913 Crore) during the corresponding quarter of Q4 FY16-17 (overall increase by 4% and Exports by 31%). The increase is mainly on account of increase in the product prices during the current quarter as compared to the corresponding quarter.

MRPL has successfully commissioned largest solar power project in a refinery site in the country. The solar power project with a total capacity of 6.063 MWP is spread across 34 roof-tops within the refinery premises comprising both RCC and sloping sheet steel roofs.

Shares of MANGALORE REFINERY & PETROCHEMICALS LTD. was last trading in BSE at Rs.105.9 as compared to the previous close of Rs. 106.4. The total number of shares traded during the day was 112971 in over 903 trades.

The stock hit an intraday high of Rs. 107.9 and intraday low of 105. The net turnover during the day was Rs. 11984016.

Source: Equity Bulls

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