Mangalore Refinery Q4 Results: Profit Doubles On Sequential Basis
Mangalore Refinery and Petrochemicals Ltd.'s profit rose in the fourth quarter of fiscal 2024.
The net profit of the petroleum product producer rose 190.39% quarter-on-quarter to Rs 1139 crore in the quarter ended March 2024, according to an exchange filing on Wednesday.
The company's board also recommended a final dividend of Rs 2 per share.
Mangalore Refinery And Petrochemicals Q4 Highlights (Consolidated, QoQ)
Revenue up 2.91% at Rs 25,329 crore vs Rs 24,667 crore
EBITDA up 100.92% at Rs 2330 crore vs Rs 1159 crore
Margin up 449 bps at 9.19% vs 4.7%
Net profit up 190.39% at Rs 1,139 crore vs Rs 392 crore.
Volumes
Mangalore Refinery and Petrochemicals Ltd. saw the highest crude throughput at 4.51 million metric tonnes. The company's previous best was at 4.42 million metric tonnes back in Q4FY16.
The company also notified that KGD6 crude from Ruby FPSO off Karnataka, and crude from the East Godavari Block was processed for the first time in the month of February and March 2024, respectively.
Gross Refining Margins
Mangalore Refinery and Petrochemicals' gross refining margins for fiscal 2024 stood at $10.36 per barrel compared to $9.88 per barrel a year ago.
