February 8, 2019:

Mangalore Refinery and Petrochemicals Friday reported a net loss of Rs 268 crore in December quarter 2018 after refinery margins turned negative. The company logged a profit of Rs 970 crore in October-December 2017-18, as per a company statement. It lost $0.64 on turning every barrel of crude oil into fuel in the third quarter of 2018-19 as compared to earning $9.27 on turning every barrel of crude oil into fuel in the same period of previous year. In value terms, Mangalore Refinery and Petrochemicals Ltd (MRPL) lost Rs 148 crore in refinery margins as compared to a gain of Rs 1,973 crore in December quarter of 2017-18. Turnover rose 16 per cent to Rs 20,250 crore. Exports were up 54 per cent at Rs 8,852 crore.

By Energy Infra Post