ICICI Direct: MRPL’s Operating Performance Remains Weak In Q2
An oil refinery in India. (Photographer: Adeel Halim/Bloomberg)

ICICI Direct: MRPL’s Operating Performance Remains Weak In Q2

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Mangalore Refinery and Petrochem Ltd. reported a weak set of Q2 FY21 numbers.

Operating revenue increased 51.1% QoQ to Rs 9,686.3 crore while oil throughput also increased 36.2% QoQ to 2.5 million metric tonne due to improvement in demand for petroleum products QoQ.

Reported gross refining margins were lifted by inventory gains and came in at $3.9/ barrel.

Subsequently, Ebitda was at Rs 236.6 crore versus Ebitda loss of Rs 487.7 crore in Q1 FY21.

Click on the attachment to read the full report:

ICICI Direct MRPL Company Update.pdf

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