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