Mangalore Refinery net at Rs.259 cr in third quarter

January 19th, 2010 - 7:10 pm ICT by IANS  

Mumbai, Jan 19 (IANS) State-owned Mangalore Refinery and Petrochemicals (MRPL) Tuesday reported a net profit of Rs.259.54 crore for the quarter ended Dec 31, compared to a net loss of Rs.285.41 crore in the like quarter last fiscal.
The company’s total income in the quarter under review rose 23.7 percent to Rs.9,388 crore, from Rs.7,586 crore in the year-ago period.

“The third quarter of last year was the worst for oil refineries. Our inventory loss was $14.37 per barrel,” said MRPL chairman R.S. Sharma, who is also the chief of its parent, the upstream oil major Oil and Natural Gas Corp (ONGC).

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