Mangalore Refinery And Petrochemicals

Mangalore Refinery and Petrochemicals Ltd (MRPL) net profit zoomed to Rs 2,707 crore in the first quarter of the current fiscal on the back of record refining margins.

The top four OMCs paid all-time high excise duty of Rs 2.87 trn in FY21, up from Rs 1.66 trn in FY20

Prices touched historic low of $1.79 per mmBtu for October-period of current financial year, down 25% from $2.39 per mmBtu during April-September period

Apart from the reduction of imports, the 2G ethanol usage in petrol helps reduce greenhouse gas emissions and also provides additional income to farmers.

Buying more crude to fill strategic capacity will benefit India as international crude oil prices are falling

The company had reported a net profit of Rs 122.5 crore during the April-June period of previous fiscal

This is on account of higher refinery margins and lower inventory loss