MRPL Q1 profit shrinks to Rs 28 cr

Oil refiner Mangalore Refinery and Petrochemicals (MRPL), a subsidiary of state-run ONGC, today reported a net profit of Rs 28.46 crore for the first quarter ended June 30, compared to Rs 420.07 crore of the same period a year ago.

Total income of the company, however, rose to Rs 7,922.62 crore during the April-June quarter of the current financial year from Rs 6,306.96 crore of the corresponding period a year ago, MRPL said in a filing to the Bombay Stock Exchange (BSE).

Shares of MRPL today closed at Rs 79.70 a piece, down by 0.50 per cent, on the BSE.