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MRPLs GRM for Q2 of FY 16-17
MANGALURU: Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary company of ONGC on Tuesday approved its un-audited financial results for second quarter of financial year 2016-17. Company's gross refining margin (GRM) for second quarter of the fiscal stood at $4.65/bbl as against $0.34/bbl during corresponding quarter of last fiscal. Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) of MRPL improved substantially.
This, H Kumar, managing director of MRPL said was mainly on account of sustained positive GRM throughout and almost stable forex market during the half year. The EBITDA for the second quarter in current fiscal stood at Rs 878 crore as against a negative Rs 695 crore during the corresponding quarter in previous fiscal. Quarterly throughput was 4.03mmt for the second quarter as against 3.46mmt in the corresponding quarter last fiscal, an increase of 16%.
Turnover during the quarter was Rs 13,988 crore (exports Rs 3,305 crore) as against Rs 12,488 crore (exports Rs 3,361 crore) during corresponding quarter of last fiscal. The profit after tax for second quarter was Rs 416 crore. In the corresponding second quarter of previous fiscal (FY 2015-16), the loss after tax was Rs 913 crore after considering Rs 159 crore as depreciation, Rs 163 crore as interest cost and net foreign exchange loss of Rs 703 crore.
MRPL achieved a throughput of 7.69mmt for half year ended September 30 as against 7.35mmt during corresponding half year of previous year, an increase of 5%. This increase is on account of sustained operations during second quarter of current fiscal. The turnover recorded during half year ended September 30 was Rs 25,575 crore (exports Rs 6,685 crore) against Rs 26,194 crore (exports Rs 6,712 crore) during the corresponding period of last year. Times of India , delhi
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