MRPL Q4 Results: Net profit slips 40%, Annual Gains Strong

MRPL's net profit rose by 36.3% to Rs 3,595.93 crore in FY2023-24 from Rs 2,638.39 crore in FY2022-23.

MRPL Q4 Results: Net profit slips 40%, Annual Gains Strong

Mangalore Refinery and Petrochemicals Ltd (MRPL) reported a 40.41 percent decrease in net profit for the fourth quarter of the fiscal year 2023-24, with a recorded amount of Rs 1,136.84 crore, down from the previous year's Rs 1,907.98 crore in the same quarter.

However, on a quarter-on-quarter basis, the company witnessed a significant increase of 193.71 percent in Profit After Tax (PAT), amounting to Rs 387.06 crore in the December quarter of FY24. Furthermore, MRPL achieved a 36.3 percent surge in net profit for the entire fiscal year 2023-24, climbing from Rs 2,638.39 crore in FY2022-23 to Rs 3,595.93 crore.

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In the revenue segment, MRPL's earnings from operations fell by 0.71 percent YoY in the fourth quarter of FY24 to Rs 29,190.05 crore. This is down from Rs 29,401.49 crore in the corresponding quarter of the previous year. However, the revenue saw a near 3 percent increase from the Rs 28,364.37 crore reported in the December quarter of FY2023-24.

The operating profit (EBITDA) saw a significant drop of 33.3 percent in the March quarter of FY24, decreasing to Rs 2,329.7 crore from Rs 3,490.2 crore in the same period last year. Correspondingly, the EBITDA margin decreased to 9.2 percent from 13.8 percent.


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The Board of Directors has proposed a final dividend of Rs 2 per share, which is 20 percent of the face value, amounting to Rs 350.52 crore. This proposal is pending approval by the company’s members and, once declared at the Annual General Meeting (AGM), will be paid within 30 days. The record date for the dividend payment will be announced in due time.

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