MRPL Releases Third Quarter (Q3 FY 2022-23) Results
Mangaluru: The Board of Directors of Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary company of ONGC and Schedule “A” Mini Ratna Category I Company during its 252nd Meeting held on January 30, 2023, approved its Standalone and Consolidated Unaudited Financial Results for the Third Quarter (Q3 FY 2022-23) and Nine Months (IXM FY 2022-23} ended December 31, 2022.
Windfall tax on export of MS, HSD and ATF & related impact:
The Government of India has levied Special Additional Excise Duty (SAED) and Road and Infrastructure Cess (RIC) on the export of High-Speed Diesel (HSD), Aviation Turbine Fuel (ATF) and Motor Spirit (MS) effective from July 1, 2022, and correspondingly there is further decrease in Domestic Refinery Transfer Price (RTP). The impact on the financials of the company on account of the same is given below. The company has suitably represented to the Govt. of India through the administrative ministry (MoPNG) in this regard.
Financial Highlights for the Third quarter 03 FY 2022-23 (03 FY 202122):
• Gross revenue from operations f 30,966 Crore (Q3 FY 2021-22 f 25,033 Crore).
• Loss before Tax of 288 Crore (Q3 FY 2021-22 Profit before tax f 1,235 Crore).
• Loss after Tax of 188 Crore (Q3 FY 2021-22 Profit after tax f 586 Crore).
• GRM of 3.88 $/bbl (Q3 FY 2021-22 GRM of 9.01 $/bbl).
• Gross revenue from operations t 95,335 Crore (IXM FY 2021-22 ~ 57,855 Crore).
• Profit before Tax t 1,289 Crore (IXM FY 2021-22 Profit before tax t 385 Crore).
• Profit after Tax of 730 Crore (IXM FY 2021-22 Loss after tax t 53 Crore).
• GRM of 8.00 $/bbl (IXM FY 2021-22 GRM of 5.81 $/bbl).
Major Highlights for the Quarter (03 FY 2022-23):
• Ever highest MS BSVI production of 168 TMT in the month of Oct-22. [Previous best was 150 TMT in Oct-21]. • Ever highest ATF production of 209 TMT in the month of Oct-22. (Previous best was 178 TMT during Sep-22) • Ever Highest MS dispatch of 154 TMT in the domestic market for the month of Oct-22. (Previous best 140 TMT during Oct-21) • HSD 10 PPM with Guaranteed Cloud Point & CFPP exported for the first time in the month of Nov-22. • ATF 65 TMT Cargo exported for the first time in the month of Nov-22. • MFO premiums linked with actual Sulfur in the product. • Ever Highest PP Dispatch of 52 TMT in the month of Dec-22. (Previous highest was 49 in Dec-21).