MRPL net profit zooms to Rs 2,707 cr in Q1 on bumper refining margins
Mangalore Refinery and Petrochemicals Ltd (MRPL) net profit zoomed to Rs 2,707 crore in the first quarter of the current fiscal on the back of record refining margins.
Net profit of Rs 2,707 crore in April-June compared with a loss of Rs 230 crore in the same period a year back, the company said in a statement.
The company, which is a subsidiary of state-owned Oil and Natural Gas Corporation (ONGC), earned USD 24.45 on turning every barrel of crude oil into fuel in the quarter as opposed to a gross refining margin of USD 4.94 per barrel in the year-ago period.
