Mangalore Refinery and Petrochemical (MRPL) today reported 21% jump in net profit for the quarter ended December 31 on higher refining margin.
Net profit in the October-December quarter was Rs 313.76 crore as compared to Rs 259.54 crore in the same period a year ago, MRPL Managing Director U K Basu told reporters here.
MRPL earned $6 on turning every barrel of crude oil into product in the third quarter as compared to a gross refining margin of $4.55 per barrel.
Sales were up 13% to Rs 11,620.83 crore, he said.
Basu said during the quarter, MRPL had an inventory gain of Rs 474 crore, 59% more than a year ago. Gains on foreign exchange variation was down 95% to Rs 8 crore.
Exports were up 16% to Rs 4,046 crore in October-December quarter.
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