The AV Birla Group and Hindustan Petroleum Corporation Limited (HPCL) formed the joint venture (JV) Mangalore Refinery & Petrochemicals Limited (MRPL). It is currently a division of ONGC, the Oil & Natural Gas Corporation. The company’s primary commercial activities include the refining of crude oil, the production of petrochemicals, the trading of aviation fuels, and the distribution of petroleum products through retail stores and transit facilities.
Financial Results:
- Mangalore Refinery and Petrochemicals Ltd. reported Total Income for Q4FY23 of ₹ 29,488 Crores up from ₹ 28,262 Crore year on year, a rise of 4%.
- Total Expenses for Q4FY23 of ₹ 26,538 Crores up from ₹ 25,913 Crores year on year, a rise of 2.4%.
- Consolidated Net Profit of ₹ 1,913 Crores, down 36% from ₹ 3,008 Crores in the same quarter of the previous year. The fall in net profits is due to drastic change in tax expenses in Q4FY23.
- The Earnings per Share is ₹ 10.92, down 36% from ₹ 17.17 in the same quarter of the previous year.