MRPL net zooms to `2,707 crore in Q1 bumper refining margins
Mangalore Refinery and Petrochemicals Ltd (MRPL) net profit zoomed to `2,707 crore in the first quarter of the current fiscal on the back of record refining margins.
Net profit of `2,707 crore in April-June compared with a loss of `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.
