MRPL posts Rs 1,521 cr loss for Apr-Jun
MRPL today reported a net loss of Rs 1,521 crore in the April-June quarter as refinery had to shutdown for sometime on stoppage of water supply.
By PTI | Updated:
NEW DELHI: Mangalore Refinery and Petrochemicals Ltd ( MRPL) today reported a net loss of Rs 1,521 crore in the April-June quarter as refinery had to shutdown for sometime on stoppage of water supply.
It had a net profit of Rs 173 crore in the same period a year ago.
"This loss was mainly triggered with sharp reduction in crude and product prices in April and May, steep devaluation of rupee against US dollar by almost 8 per cent and lower throughput due to force majeure arising out of stoppage of water supply for about 10 days by district administration," company Chairman Sudhir Vasudeva told reporters here.
MRPL processed 2.89 million tons of crude oil in the quarter as against 3.30 million tons in the same period a year ago.
Gross turnover at Rs 13,465 crore in Q1 was lower than Rs 14,522 crore last year.
It had a net profit of Rs 173 crore in the same period a year ago.
"This loss was mainly triggered with sharp reduction in crude and product prices in April and May, steep devaluation of rupee against US dollar by almost 8 per cent and lower throughput due to force majeure arising out of stoppage of water supply for about 10 days by district administration," company Chairman Sudhir Vasudeva told reporters here.
MRPL processed 2.89 million tons of crude oil in the quarter as against 3.30 million tons in the same period a year ago.
Gross turnover at Rs 13,465 crore in Q1 was lower than Rs 14,522 crore last year.
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