Mangaluru : Mangalore Refinery and Petrochemicals Ltd (MRPL), the fuel refining arm of state-run explorer Oil and natural gas (ONGC), reported a net profit of Rs 1,169 crore during the quarter as compared to Rs 1,067 crore in the corresponding quarter previous fiscal (2013-14). This translates into a a 9.5 per cent rise in net profit for the quarter ended March 2015 on higher crude throughput.The refinery achieved an operating margin of 8.56 $/bbl and a GRM of 6.97 $/bbl with a throughput of 4.12 MMT for the quarter ending 31-03-2015. The company is reviving an earlier plan to set up retail outlets in the current fiscal.

The Q4 performance of MRPL in respect of both Throughput and profits was excellent. The company could achieve highest ever throughput of 4.12 MMT as against 3.84 MMT during Q4 FY 2013-14 by consistent operation of the units. Strong operating performance from the refining business and lower flat prices resulting in lower fuel cost led to higher operating profits.
 
For the full fiscal 2014-15, MRPL report loss of Rs 1,712 crore as against a profit of Rs 601 crore in the previous fiscal. Total income during the financial year also dipped 20 per cent per cent to Rs 57,477 crore from Rs 71,826 crore in the previous fiscal.