MRPL - Inventory Gains Lift Profits; Subdued Outlook: ICICI Direct
An employee walks through an oil refinery complex in India. (Photographer: Dhiraj Singh/Bloomberg)

MRPL - Inventory Gains Lift Profits; Subdued Outlook: ICICI Direct


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 Petrochemicals Ltd.’s Q4 FY21 performance was driven by higher throughput as well as inventory gains.

Operating revenue increased 47.1% QoQ to Rs 20788.1 crore while oil throughput also increased 30.8% QoQ to 4 million metric tonne due to improvement in demand of petroleum products QoQ.

Reported gross refining margins were boosted by inventory gains and came in at $6.5/barrel of oil.

Subsequently, Ebitda was at Rs 845.9 crore, 4.8 times QoQ.

Reported profit after tax was at Rs 328.3 crore versus Rs 75.6 crore loss in Q3 FY21.

Click on the attachment to read the full report:

ICICI Direct MRPL Company Update.pdf


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