Mangalore Refinery and Petrochemicals (MRPL) has reported results for its third quarter ended December 31, 2011.
The company has posted a 65.02% fall in net profit of Rs 109.75 crore for the quarter ended December 31, 2011 as compared to Rs 313.76 crore for the same quarter in the previous year. However, total income has increased by 24.96% from Rs 10368.02 crore for Q3FY11 to Rs 12955.59 crore in the quarter under review.
MRPL was a joint venture oil refinery promoted by Hindustan Petroleum Corporation (HPCL), a public sector company and IRIL & Associates (AV Birla Group). It has a design capacity to process 9.69 million metric tonnes per annum and is the only refinery in India to have two hydrocrackers producing Premium Diesel (High Cetane).