Mangalore: MRPL announces record profit of Rs 601 crore

Bellevision Media Network

Mangalore, Sep 15, 2014: Mangalore Refineries and Petrochemicals Limited (MRPL) chairman D K Saraf during twenty-sixth annual general body meeting held here on Sunday September 14 announced that it has achieved a profit of Rs 601 crore after tax for the financial year 2013 – 14.

 

Saraf further said MRPL has processed 14.59 million metric tons which is the highest ever and has posted the annual turn over of Rs 75,226 crore.  It is also the highest ever, making MRPL to achieve the status of schedule ‘A’ status of CPSE with effect from July 4 by the department of public enterprises.

 

 

Saraf further said that all the achievements have come in a time, when US $ touched Indian Rs 60 and the country’s GDP growth was at below 5 percent for the successive second year, said Saraf.

 

Projects nearing completion

 

One of the most anticipated projects of the company - polypropylene project will be completed by December 2014.  It will be functional from the New Year.

 

The company has also taken up refinery performance improvement which will try to minimize the hydrocarbon emission and increasing the efficiency of the plant.

 

Reaching out to the society

 

The company will set up a CSR Trust to reach out to the needy from its earnings. ‘Since MRPL was running under loss last year, we were not able to undertake the CSR activity under our own name but in the name of the parent company. Hence efforts will be made to speed up the works at Lady Goschen hospital,’ said Saraf.

 

MRPL managing director H Kumar and officer Vishwas Agarwal were present among others.