News Archive

MRPL records 21% increase in PAT in Q3' 2010-11 compared to Q3 of 2009-10

Date: 
8th February 2011

The Board of Directors of Mangalore Refinery and Petrochemicals Limited, a subsidiary company of ONGC, and a category I Mini Ratna, approved its un-audited results for the Third Quarter 2010-11.

The company achieved the highest ever crude throughput of 3.49 MMT during Q3 of 2010-11.
The Company achieved GRM of 6.00 $/BBL in Q3 2010-11.

PHYSICAL AND FINANCIAL PERFORMANCE :
Particulars Q3 Variation FY 2009-10
2010-11 2009-10
Turnover (` In Crore) 11,621 10,274 13% 36,141
Exports Turnover (` In Crore) 4,046 3,474 16% 11,083
PBDIT (` In Crore) 592 518 14% 2,197
PBT (` In Crore) 468 390 20% 1,692
PAT (` In Crore) 314 260 21% 1,112
GRM (US$ / BBL) 6.00 4.55 32% 5.51
Throughput (MMT) 3.49 3.40 3% 12.50
GRM Variance Analysis
Operating Margin (` In Crore) 218 84 159%
Net Exchange Gain/(Loss) (` In Crore) 8 153 -95%
Inventory Gain/(Loss) (` In Crore) 474 299 59%


PHASE III: REFINERY EXPANSION AND MODERNISAION:

  1. .` 13,964 Crore Expansion project is progressing ahead of schedule. The project has achieved the physical progress of 72.90% as on January 2011 against the scheduled plan progress of 71.40 %.
  2. In respect of Poly Propylene unit, the physical progress has been 44.20% as on January 2011.
  3. The orders for all major process plants and auxiliary equipments including off site facility have been placed .The commitment made against the project so far is `11,377 crore.

OTHERS:
•The Company has entered into Long term settlement with employees union in revising the wages effective from 01.04.2007. This agreement will be valid for a period of 10 years. The signing signifies the outstanding relationship with the employee union and the management.
•The Company is continuing to get supply of Iran Crude. In respect of future purchases efforts are being made to arrive at a working solution.
•The Company has achieved the "Excellent" target (composite score 1.04) against the MOU target set with Govt. of India for the year 2009-10.
•The Company has exceeded its earlier performance in Safety of Refinery operation without reportable loss time accident by achieving 1315 days as on today.

CORPORATE SOCIAL RESPONSIBILITY:
The company as socially conscious corporate continues its Samrakshan Programme. The company in its endeavor to impart education to needy person, has contributed towards building class rooms and other required infrastructure for local schools. It has also taken up the cause of women empowerment by developing them to be self reliant by training them in stitching and giving them sewing machines for self sustaining. The company continues it activity of rendering medical assistance to needy by conducting an artificial limb camp and contribution for organ transplant. The Company has plans to increase the outlay in furtherance of these activities and further develop the corporate usage.

Speaking on the occasion Shri A.K.Hazarika, Chairman whole heartedly appreciated efforts of the Team MRPL for a strong positive overall performance during the quarter.