MRPL board approves Q3 FY 2023-24 financial results

Bellevision Media Network

Mangaluru, 23 Jan 2024: The board of directors of Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary company of ONGC and Schedule ‘A’ Mini Ratna Category I company during its 260th meeting held on January 22, approved it’s standalone and consolidated unaudited financial results for the third quarter (Q3 FY 2023-24) and nine months (IXM FY 2023-24) ended December 31, 2023.

 

Major Highlights for the Third Quarter (Q3 FY 2023-24):

• Phase 3 units and HCU 1 safely re-started post mandatory M & I

• Highest ever monthly gross crude input achieved during:

- Dec 23 - 1,558 TMT (Previous Highest was 1,557.3 TMT during Jan-16).

- Nov 23 - 1,499 TMT (30 days basis) (Previous Highest 1,481 TMT during Apr-22).

• RLNG taken as input on long term basis.

• High Sulphur Fuel Oil procured (20 TMT) procured & processed for 1st

• Aromatic complex operated on Para-xylene mode for 20 days establishing the integrity & availability of the units. 20 TMT Px produced was exported.

• Highest ever loading of Coke through Rakes during any month (21 rakes), during the month of Dec 23.

• MRPL was honoured with the Platinum award under Occupational Health and Safety category by Grow Care India foundation during Oct.

 

 

Financial Highlights for the Third quarter Q3 FY 2023-24 (Q3 FY 2022-23):

• Revenue from operations Rs. 28,383 Crore (Q3 FY 2022-23 Rs. 30,966 Crore).

• Profit before Tax Rs. 591 Crore (Q3 FY 2022-23 Loss before tax Rs. 288 Crore).

• Profit after Tax of Rs. 387 Crore (Q3 FY 2022-23 Loss after tax Rs. 188 Crore).

• GRM of 5.00 $/bbl (Q3 FY 2022-23 GRM of 3.88 $/bbl).

 

Financial Highlights for the Nine months IXM FY 2023-24 (IXM FY 2022-23):

• Revenue from operations Rs. 76,060 Crore (IXM FY 2022-23 Rs. 95,335 Crore)

• Profit before Tax Rs. 3,755 Crore (IXM FY 2022-23 Profit before tax Rs. 1,289 Crore).

• Profit after Tax of Rs. 2,459 Crore (IXM FY 2022-23 Profit after tax Rs. 730 Crore).

• Total reduction in interest-bearing Long-Term Borrowings: Rs. 3,238 Crore (i.e.,from Rs. 14,837 Crore as on March 31, 2023 to RS. 11,599 Crore as on December 31, 2023).

• Debt Equity Ratio improved from 2.28 as on December 31, 2022 to 1.14 as on December 31, 2023.

 

Dividend

Board has approved interim dividend of 10%, i.e., Rs. 1 on each equity share of Rs. 10. The total payout on this account will be Rs. 175.26 Crore. The Record date for distribution of dividend has been fixed for February 2, 2024 which has been intimated to the stock exchanges.