MRPL Revenue Down in Q3 FY25 Despite Record Crude Processing Volumes

Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary of ONGC, announced its financial results for the third quarter (Q3 FY 2024-25) and the nine months ended December 31, 2024.

Q3 FY 2025 Financial Highlights

MRPL reported revenue from operations of ₹25,601 crore in Q3 FY 2024-25, compared to ₹28,364 crore in the same quarter of the previous fiscal. The company’s Profit Before Tax (PBT) stood at ₹469 crore, down from ₹591 crore in Q3 FY 2023-24, while Profit After Tax (PAT) was ₹304 crore, compared to ₹387 crore in the corresponding quarter of the previous year.

9 Months Ended December 31, 2024

For the nine-month period (IXM FY 2024-25), MRPL’s revenue from operations increased to ₹81,676 crore, up from ₹76,033 crore in IXM FY 2023-24. However, the company reported a Loss Before Tax of ₹471 crore, as opposed to a Profit Before Tax of ₹3,755 crore in the same period last year. Similarly, it posted a Loss After Tax of ₹313 crore, in contrast to a Profit After Tax of ₹2,459 crore in IXM FY 2023-24.

Major Highlights

MRPL recorded its highest-ever crude processing volumes in Q3 FY 2024-25, with gross crude processing reaching 4,541.5 TMT, surpassing the previous record of 4,459.1 TMT achieved in Q3 FY 2022-23. Net crude processing also set a new benchmark at 4,601.0 TMT, exceeding the earlier record of 4,479.7 TMT. The company processed Merey-16 Crude from Venezuela (API-15.69) for the first time in November 2024.

Additionally, MRPL achieved record production levels for key products during the quarter. Aviation Turbine Fuel (ATF) production rose to 763.1 TMT, surpassing the previous high of 747.5 TMT in Q2 FY 2024-25. Benzene production also reached a new peak of 60.6 TMT, compared to the earlier best of 49.7 TMT.

On January 21, 2025, Mangalore Refinery and Petrochemicals share price (NSE: MRPL) opened at ₹145.00, touching the day’s low at ₹143.37, as of 9:52 AM on the NSE.

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