MRPL achieves record operational performance despite dip in annual profit
MRPL announced its FY 2024-25 results, achieving record crude throughput of 18.044 MMT and improved operational efficiency. Revenue increased to Rs 1,09,277 crore, but profit after tax declined to Rs 51 crore.
MANGALURU: Mangalore Refinery and Petrochemicals Limited (
MRPL
), a subsidiary of ONGC and a Schedule 'A' Mini Ratna company, announced its financial results for the fourth quarter and full financial year 2024-25 at its 269th Board Meeting held on Saturday.
MRPL reported several operational milestones during the year.
The company achieved its highest-ever gross crude throughput of 18.044 million metric tonnes (MMT) during FY 2024-25, surpassing its previous record of 17.116
MMT
in FY 2022-23. The distillate yield improved to 81.93 percent, while aviation turbine fuel (ATF) production increased to 2.72 MMT. Production of reformate and 95
RON MS
from the aromatic complex rose to 1.20 MMT, and benzene production touched 0.21 MMT.
MRPL also achieved its lowest specific energy consumption (MBN) of 70.71 since Phase-3 commissioning, demonstrating further operational efficiency. Key infrastructure projects, including a new bitumen train and the
PFCC Wet Gas Scrubber
, were successfully commissioned during the year.
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In the marketing segment, MRPL commissioned the Devangonthi Marketing Terminal, enabling dispatch of MS, HSD, and ATF products. It also expanded its retail network by commissioning 66 new retail outlets, including three in
Tamil Nadu
, taking the total number of operational outlets to 167.
Financially, MRPL's revenue from operations for FY 2024-25 stood at Rs 1,09,277 crore, an increase from Rs 1,05,223 crore in FY 2023-24. However, the company's profit after tax (PAT) dropped significantly to Rs 51 crore, compared to Rs 3,596 crore in the previous fiscal. The gross refining margin (GRM) for the year was US$ 4.45 per barrel, down from US$ 10.36 per barrel in FY 2023-24.
For the fourth quarter (Q4 FY 2024-25), MRPL reported revenue from operations of Rs 27,601 crore, compared to Rs 29,190 crore in Q4 FY 2023-24. The profit before tax stood at Rs 584 crore against Rs 1,766 crore in the previous year's corresponding quarter. Profit after tax for Q4 was Rs 363 crore, lower than Rs 1,137 crore recorded a year earlier. The GRM for the quarter was US$ 6.23 per barrel, compared to US$ 11.35 per barrel in Q4 FY 2023-24.
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