MRPL declares net loss of Rs 71 crore in Q3

The Mangalore Refinery and Petrochemicals Limited (MRPL) declared a net loss of Rs 71 crore and Gross Refining Margin of 3.26 $/bbl during the third quarter.

Board of Directors of MRPL, a subsidiary company of ONGC and schedule ‘A’ mini ratna category I company, during its 235th meeting held on Monday, approved its standalone and consolidated unaudited financial results for the third quarter (Q3 FY’21) and nine months (IXM FY’21) ending on December 31, 2020.

The management, after carrying out an assessment of the potential impact of Covid-19, had expected no significant impact on the continuity of operations of the business on long term basis.

The company is positive on long-term business outlook as well as its financial position, but is closely monitoring any material changes to future economic conditions.

The gross revenue from operations stood at Rs 14,136 cr during the third quarter. While the loss before Tax is Rs 104 Cr. The gross revenue from operations during nine months (April 2020 to December 2020) is Rs 30,231 Cr. The loss before tax is Rs 843 cr.