Mangalore Refinery to raise Rs.4,000 crore for expansion (Lead)
January 19th, 2010 - 10:25 pm ICT by IANS ( Leave a comment )New Delhi, Jan 19 (IANS) State-owned Mangalore Refinery and Petrochemicals Ltd (MRPL) will raise Rs.4,000 crore by March 2012 for its expansion plans, a company official said Tuesday.
MRPL’s Director (Finance) L.K. Gupta said that the company, a subsidiary of state-run Oil and Natural Gas Corp, will raise Rs.4,000 crore, which will partially fund expansion.
MRPL 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 ONGC.
MRPL would import 12.1 million tonnes of crude in the next fiscal year. This fiscal year compared with 12.5 million tonnes in 2009-10.
- Mangalore Refinery net at Rs.259 cr in third quarter - Jan 19, 2010
- MRPL posts six-fold increase in profit - Jul 26, 2011
- Indian Oil registers Rs.3,388 crore loss - Jul 24, 2010
- Reliance Industries net profit rises 28 percent to Rs.5,136 crore - Jan 21, 2011
- Reliance Industries net profit up 14 percent - Apr 21, 2011
- NALCO's Q1 net profit up 32 percent - Aug 13, 2011
- Reliance Industries net profit rises 15.8 percent - Oct 15, 2011
- ONGC Q2 net profit rises 6 percent - Oct 28, 2010
- ONGC Q3 net profit doubles to Rs.7,083 crore - Jan 28, 2011
- ONGC second quarter net up 5.8 - Oct 29, 2009
- Jet Airways second quarter net profit at Rs.12.4 crore - Oct 29, 2010
- ONGC refiner net down 6.3 percent - May 27, 2009
- ONGC quarterly net profit rises 60 percent - Nov 04, 2011
- GAIL's second quarter net up 18.50 percent - Oct 24, 2011
- Indian Oil posts Rs.284.4 crore profit in second quarter - Oct 30, 2009
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