MRPL 3rd quarter results are fair and appreciative, its chief says

12:11 PM, Thursday, January 26th, 2012

Sudhir Vasudeva MRPLMangalore: The Mangalore Refineries and Petro-chemicals Ltd(MRPL) has recorded a business of Rs13,658 crores in the third quarter of 2011-12 ending on 31-12-2011.

This is a 17% growth over last financial year during the same period.

The local company of productions, as part of ONGC now, has increased its exports to Rs5943 crores from Rs4046 crores. About 3.04 million MT crude oil has been refined. The achievement is said to be satisfactory despite adverse conditions rupee value collapse, rate hikes, and fall in demands of products.

The governing council of MRPL has accepted the results shown so far. The highest internal credit rating form CRISIL has continued, the company chairman observed.

The MRPL has achieved in 9 months, a business ranging over Rs 40,600 crores. Profits after taxes stood at Rs307 crores.

The Refinery plant renovation and extension works are made to the extent of 91.5%. Iran continues to supply crude oil, despite economic sanctions imposed by USA recently. The Central Government is appreciative of a high order of Targets reached here.

The business company is carrying out its social responsibilities in cultural, sports and educational fronts, said Sudhir Vasudeva, MRPL chairman on January 25.

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