MRPL Q3 Profit Drops 21% | Lower Revenue Hits Earnings

New Delhi, Jan 20 (PTI) Mangalore Refinery and Petrochemicals Ltd (MRPL) on Monday reported a 21 per cent drop in its third-quarter net profit as revenues slid, negating a rise in refinery margins.

Its consolidated net profit of Rs 309 crore in October-December 2024 - the third quarter of April 2024 to March 2025 fiscal (FY25) - compared with Rs 392 crore earnings a year back, according to a company statement.

The company's revenue from operations fell to Rs 25,601 crore from Rs 28,364 crore in the third quarter of the previous fiscal, largely because of lower oil prices.

It has earned USD 6.21 on turning every barrel of crude oil into fuel in October-December compared to a gross refining margin of USD 5 per barrel a year back.

Exports also fell to Rs 8,114 crore from Rs 10,205 crore.

The third quarter recorded the highest crude processing at 4.54 million tonnes. The unit processed Merey-16 crude from Venezuela for the first time, the statement said, adding that Q3 also recorded the highest production of ATF (763,100 tonnes) and benzene (60,600 tonnes).