MRPL first quarter net profit up 54%

Mangaluru: Mangalore Refinery and Petrochemicals Limited (MRPL) has registered a net profit of Rs 362 crore, for the first quarter of the financial year 2018-19. Last year, the MRPL had posted a profit of Rs 234 crore in the corresponding period, said MRPL Chairman Shashi Shanker addressing the media.

The gross turnover during the first quarter is Rs 16,573 crore. It was Rs 14,491 crore during 2017-18. The profit posted before the tax is Rs 562 crore in the first quarter of this year. Last year, it was Rs 332 crore. The profit has increased by 54.6%, he added.

The company’s polypropylene production and despatch was 294.5 TMT and 278.16 TMT respectively as against 264 TMT and 263.6 TMT in the financial year 2016-17, informed the chairman.

the company has increased its strong market presence by way of direct marketing of its products pet coke, sulphur, and polypropylene. The company is increasing the product grades of polypropylene to enhance polypropylene market share and thereby fetch higher margins, he said.

Desalination unit

In order to reduce reliance on freshwater and to provide MRPL with flexibility for future expansions, a Reverse Osmosis (RO)-based desalination plant of 13 MGD capacity is being set up. The MRPL has already installed an additional RO plant of 3.4 MGD capacity with a financial implication of Rs 10.30 crore for processing the municipal sewage, informed the chairman.