Mangaluru : The Mangalore Refinery and Petrochemicals Ltd. (MRPL) announced posting Rs 682 crore net loss in Q2 of 2024-25 as against Rs 1,059 crore net profit posted in Q2 of 2023-24. The company had posted Rs Rs 66 crore net profit in Q1 of the current financial year.

A release here said that company directors approved the limited reviewed standalone and consolidated financial results for the second quarter (Q2 FY 2024-25) and half year (H1 FY 2024-25) ended September 30, 2024, during their 266th meeting held on Friday.

During the quarter, MRPL commissioned its Devangonthi Marketing Terminal in Bengaluru on August 24 and made its depot at Elathur in Kerala fully operational dispensing 15,000 kilo litres product a month on month. While MRPL utilised its capacity by 118.3% in Q2, the capacity utilisation had been 117.6% during the half year.

The company earned Rs 28,786 crore revenue from operations as against Rs 22,844 crore earned in Q2 of 2023-24. The net loss during the first half year was ₹617 crore as against net profit of Rs 2,072 crore in the first half of 2023-24.