MRPL Q1 Results: Profit zooms to Rs 2,707 cr on bumper refining margins
Mangalore Refinery and Petrochemicals Ltd NSE -2.41 % (MRPL NSE -2.41 %) 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 NSE 2.99 % (ONGC NSE 2.99 %), 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.
