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MRPL posts Rs 268 cr net loss in Q3

Press Trust of India  |  New Delhi 

Refinery and Petrochemicals Friday reported a net loss of Rs 268 crore in December quarter 2018 after refinery margins turned negative.

The company logged a profit of Rs 970 crore in

October-December 2017-18, as per a company statement.

It lost USD 0.64 on turning every barrel of into fuel in the third quarter of 2018-19 as compared to earning USD 9.27 on turning every barrel of into fuel in the same period of previous year.

In value terms, Refinery and Petrochemicals Ltd (MRPL) lost Rs 148 crore in refinery margins as compared to a gain of Rs 1,973 crore in December quarter of 2017-18.

rose 16 per cent to Rs 20,250 crore. Exports were up 54 per cent at Rs 8,852 crore.

MRPL processed 4.38 million tonne of in October-December 2018, down from 4.49 million tonne a year ago.

The company posted a profit of Rs 13 crore during April-December 2018 on a of Rs 54,539 crore. It had earned a profit of Rs 1,682 crore in the same period a year ago on a of Rs 44,322 crore.

MRPL, a subsidiary of state-owned Oil and Natural Gas Corp, operates 15 million tonne a year refinery at in

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, February 08 2019. 13:25 IST