MRPL announces Q4, FY2020 results

Performance for Q4 FY'20:

MRPL declared Net Loss of Rs. 1,596 crore and negative GRM of 4.52 $/bbl. During Fourth quarter of operation, the outbreak of COVID-19 pandemic globally and resultant lockdown in many countries, including India from March 25, 2020 has impacted the business of the Company. Consequently lower demand for crude oil and petroleum products has impacted the prices and refining margin globally. Since the petroleum products are under essential services, the refining operations of the Company was continued during the lockdown period. Due to lock down there was reduction in sales for the Company.

Financial Highlights for the Fourth quarter Q4 FY'20 (Q4 FY'19):

- Gross revenue from operations Rs. 17,545 Crore (Q4 FY'l9 Rs. 17,750 Crore).

- Loss before Tax Rs. 2,274 Crore (Q4 FY'l9 Profit before tax Rs. 468 Crore)

- Negative GRM of 4.52 $/bbl {04 FY'l9 Positive GRM of 5.01 $/bbl)

Performance for FY'20:

MRPL declared Net loss of Rs. 2,708 crore and negative GRM of 0.23 $/bbl. During first quarter of operation, the Refinery complex faced unprecedented water scarcity affecting plant operation nearly for a month and half. During second quarter of operation, the Refinery complex has been affected by a minor landslide as an aftermath of the intensified monsoon in Dakshina Kannada District, hence as a precautionary measure, structured shutdown of the Phase-III process units of the Refinery was taken from August 18, 2019 to access the condition of the facilities in the vicinity and for immediate stabilization and after taking necessary corrective action, Phase III operations of the refinery were resumed in a phased manner by September 17, 2019.

Financial Highlights for the FY'20 (FY'19):

- Gross revenue from operations Rs. 60752 Crore (FY'l9 Rs. 72315 Crore).

- Loss before Tax Rs. 3,955 Crore (FY'l9 Profit before tax Rs. 581 Crore)

- Negative GRM of 0.23 $/bbl (FY'l9 Positive GRM of 4.06 $/bbl)

Shares of MANGALORE REFINERY & PETROCHEMICALS LTD. was last trading in BSE at Rs.33.25 as compared to the previous close of Rs. 31.75. The total number of shares traded during the day was 174938 in over 978 trades.

The stock hit an intraday high of Rs. 34.35 and intraday low of 32.35. The net turnover during the day was Rs. 5825322.

Source : Equity Bulls

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