MRPL registers highest profit of 601 cr

8:31 PM, Sunday, September 14th, 2014

MRPLMangalore : MRPL Chairman and ONGC CMD Dr D K Sarraf said that subsidiary of the public sector enterprise ONGC, Mangalore Refineries and Petrochemicals Limited (MRPL) has registered the highest profit in its history, Rs 601 crore in the fiscal 2013-14, after taxes.

He was speaking at a press conference, held as a part of 26th Annual General Meeting of the enterprise held at the conference hall on Sept 13, Saturday.

He also said that the company had posted a highest-ever turnover of Rs 75,226 crores during the financial year. In the last year, MRPL had registered a loss of Rs 757 crores. During the present fiscal the company has processed as many as 14.59 MMT of crude, which is again a highest-ever.

MRPL has achieved a record export turnover of Rs 35,392 crore during the same period. Although the company has registered profit, the Board of Directors has not recommended any dividend owing to the loss incurred in the last fiscal, he said.

MRPLSarraf said that the phase 3 project of the MRPL would be completed by this December at estimated the cost of Rs 15,000 crore. The project includes Coker Unit, first train of Sulphur Recovery Unit (SRU), Coker Gasoil Hydro Treating Unit, second train of SRU and Petrochemical Fluidized Catalytic Cracker Unit to be commissioned in the year 2013-14.

The Polypropylene project (PP) is the only pending project to be commissioned and expected to be function by December. The project has completed about 96.6 per cent.

ONGC-MRPL has assured to provide the fund of Rs 21 crore to the construction of multi-storey building at Lady Goshen hospital. MRPL failed to hand over the full amount to the hospital due to the loss incurred in 2012-13 financial year. The matter in this would be discussed at the ONGC board meeting and would hand over fund soon.
MRPL Managing Director H Kumar, Director (Finance) Vishnu Agarwal, Director (Refinery) Vijay G Joshi were present at the press meet.

Prior to the press meet D.K. Sarraf, Chairman of Mangalore Refinery and Petrochemicals Limited (MRPL) inaugurated new office of MRPL Employees Union inaugurated new office of MRPL Employees Union on September 13, Saturday.

MRPLSpeaking on the occasion, he urged the employees to respect the work place as it contributes for their overall development. One grows to a greater height, when they respect the work place.

Managing Director H. Kumar, Director (Finance) Vishnu Agrawal, Director (Refinery) V.G. Joshi, Group General Manager Laxminarayan, President of the Union Sudendru K.V, Vice President Srikanth Jogi, Secretary Sai Prithvi D Salian, Treasurer Maxim Menezes, Manjnath Shetty, Muralidhar and others were present.

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