JOIN USMangalore Refinery and Petrochemicals Ltd (MRPL) recorded a net profit of Rs 969 crore during the third quarter of 2021-22 against a loss of Rs 76 crore reported in the corresponding period of 2020-21.
The gross revenue from the operations stood at Rs 25,238 crore during Q3 of 2021-22 against Rs 14,136 crore in the third quarter of 2020-21. The gross refining margin (GRM) of the company stood at $9.29 a barrel during Q3 of 2021-22 as against $3.26 a barrel during the corresponding period last year, stated a release from MRPL.
The throughput of the refinery was at 4.37 million tonnes (mt) during Q3 as against 3.08 million tonnes in the corresponding period of 2020-21. MRPL has achieved crude throughput of 116.44% of the capacity utilisation.
The release stated that multiple initiatives have been taken to improve the revenue from marketing margins in domestic, exports and B2B arrangements. The fuel and loss in Q3 were one of the lowest. Energy performance measure in terms of MBN was lowest during any quarter.
The highest poly polypropylene, motor spirit (petrol) production was achieved in October and December. It said the highest dispatch of LPG was also achieved during the quarter.
MRPL commissioned a desalination plant in December 2021. This plant will mitigate one of the major risks faced by the company with respect to water availability, the release added.
Apart from this, new HSD (high-speed diesel) tanks, along with the new HSD coastal line to jetty, were commissioned during the quarter.
The release further stated that it commissioned the FCC gasoline treatment unit during the quarter as a part of the BS-VI project, and stabilised and operated beyond 100% of the design capacity producing about an additional 25 TMT (thousand metric tonnes) per month of motor spirit (petrol).