MRPL spurts after robust Q4 outcome

Mangalore Refinery & Petrochemicals (MRPL) jumped 4.47% to Rs 71.25 after the company posted a net profit of Rs 3,008 crore in Q4 FY22, steeply higher than net profit of Rs 268 crore in Q4 FY21.

Net sales rose 35.76% year-on-year to Rs 28,228 crore in Q4 FY22 over Q4 FY21. The company reported pre-tax profit of Rs 2,323 crore in Q4 FY22, up 442.76% as against pre-tax profit of Rs 428 crore in Q4 FY21. EBITDA jumped 215.47% to Rs 2,937 crore in Q4 FY22 as against EBITDA of Rs 931 crore in Q4 FY21.

Refinery net throughput increased 8.68% to 4.38 MMT in Q4 FY22 over Q4 FY21.

Capacity utilization achieved for fourth quarter (Q4 FY22) was 116.96% as against 107.50% in the corresponding quarter of previous financial year (Q4 FY'21).

MTPL reported a net profit of Rs 2,955 crore in FY22, compared with net loss of Rs 761 crore in FY21. Revenue from operations rose 69.43% to Rs 86,064 in FY22 over FY21.

The firm achieved highest ever production in a year for Polypropylene (460 TMT against nameplate capacity of 440 TMT), LPG (production of 1049 TMT) and MS (1727 TMT).

The company said that retail expansion plan is put in place for the next 5 years and as on date 35 retail outlets have been commissioned.

MRPL achieved highest ever Motor Sprit production (MS) and highest ever High Speed Diesel (HSD) dispatch for a month during March 2022.

MRPL, a subsidiary of ONGC, is Category 1 Miniratna Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum & Natural Gas. The refinery has a flexibility to process crudes of various API, delivering a variety of quality products.

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