MRPL registers record performance with Rs 3,644 crore net profit

MRPL registers record performance with Rs 3,644 crore net profit

Mangalore Today News Network

Mangaluru, August 20, 2017: Speaking to presspersons after the General Body meeting of Mangalore Refinery and Petrochemicals Ltd. (MRPL) in Mangaluru on Saturday, the Chairman of the company Dinesh K. Sarraf said that, the MRPL has registered record performance during financial year 2016-17. Its total turnover reached Rs 59,415 crore as against Rs 50,864 crore last fiscal even as its profit after tax reached Rs 3,644 crore, the highest ever in MRPL’s history, as against Rs 1,148 crore the previous fiscal, he said.

As such, the company’s board has recommended dividend of Rs 6 per share of Rs 10 each, that also the highest ever in MRPL’s history. The company has also recorded highest ever gross throughput of 16.27 million tonnes as against the previous highest of 15.69 MT.

It also achieved the highest gross refining margin of $7.75 per barrel as against $5.2 per barrel the previous year.

He noted that MRPL remains the market leader in the region for many products, including bitumen, sulpher, pet coke, among others.

The company continues to be the sole supplier of petroleum products, except LPG, to Mauritius since 2006 while Shell MRPL Aviation Fuel Services Ltd. has steadily acquired business for sale of aviation turbine fuel at Indian airports.

MRPL has earmarked Rs 33.87 crore for corporate social responsibility activities in 2017-18, he added.

Managing Director H. Kumar and senior officials were present on the occasion.