Public Sector Oil Marketing Companies agree to pay RTPs to MRPL for sale of LPG & Kerosene

Mangalore Refinery & Petrochemicals Ltd (MRPL) has announced that Public Sector Oil Marketing Companies (OMCs - IOC, HPC and BPC) have now agreed to make payment of full Refinery Transfer Prices (RTPs) towards sale of LPG (domestic) and Kerosene (PDS) by MRPL to OMCs with effect from April 01, 2006 without deducting any discounts. The discounts of Rs 142.88 Crore were accounted during the first two quarters of the current Financial Year, pending receipt of formal confirmation from OMCs, towards payment of full RTP without discount. These discounts will now be reversed in the third quarter resulting in a credit of Rs 142.88 Crore in the third quarter results. The impact of receiving full RTP without discounts for the full Financial Year would be approximately Rs 290 Crore.

Source : Equity Bulls

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