Mangalore: In the second quarter(July to September) of current fiscal year(2011-12), the Mangalore Refineries and Petrochemicals Ltd has made reduced net profits on a business of Rs12,404 crores, owing to rupee devaluation, in spite of nearly Rs3000 crores more of transactions than in 2010 for the same period(Rs.9590 crores).

The export trade has grown up from Rs2859 crores to Rs5245cr. The volume of such exports of petroleum products was calculated as 1.34 million Metric Tonnes(MMT).

However, the profit went down from Rs.411crores to a mere Rs.30crores, with net profit sliding from earlier Rs282 crores to Rs24crores, a press release informed on Monday(October 24).

MRPL registered half an year’s business of Rs26943 crores in 2011, thus creating an increase of 45% in business.