Mangalore Refinery and Petrochemicals Ltd (MRPL) today reported a 15 per cent rise in its second quarter net profit as refinery margins soared.
MRPL had a net profit of Rs 478 crore in the July- September quarter as compared to Rs 416 crore in the same period a year ago, the company said in a statement here.
The firm, a subsidiary of state-owned Oil and Natural Gas Corp (ONGC), earned USD 8.05 on turning every barrel of crude oil at its 15 million tonnes a year refinery at Mangalore into fuel as compared to USD 4.65 per barrel gross refining margin last year.
As a result, turnover was lower at Rs 12,414 crore as compared to Rs 13,988 crore.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)