MPRL to Set up Sea Water Desalination Plant – Chairman Shashi Shanker
Mangaluru: “MRPL declared a net loss of Rs 500 crore and negative GRM of 0.42 $/bbl. Reason for low GRM is mainly due to the refinery complex facing unprecedented water scarcity affecting plant operation nearly for a month and half. To solve the water problem we are planning to set up a seawater desalination plant with a target mechanical completion by August 2020”, said the chairman of MRPL and ONGC Group of Companies Shashi Shanker in a press meet held at MRPL here on August 3.
Addressing the mediapersons Managing Director MRPL Venkatesh briefed on the financial performance
• Q1 FY’19: Net Profit Rs 362 crore and GRM of 8.28 $/bbl.
Highlights for the Quarter ended (Q1 FY’20):
• Gross revenue from operations Rs 11,200 Crore. • Loss before Tax 763 Crore. • Negative GRM 0.42 $1661.
Highlights for the Quarter ended (Q]. FY’19):
• Gross revenue from operations Rs 16,583 Crore. • Profit before tax Rs 562 Crore. • GRM 8.28 $/bbl.
Venkatesh further said, “This time we have faced severe water scarcity and to solve the problem the board has taken a decision to set up a seawater desalination plant which will be completed by August 2020. The company continues its foray into direct marketing by going for more retail outlets to expand its operation.”
Director Vinaykumar and other officials of MRPL were also present.
