MRPL shares tank after net loss of Rs 1,521 crore

Shares of Mangalore Refinery and Petrochemicals (MRPL), a subsidiary of Oil and Natural Gas Corporation, decline nearly 9 percent after media reported the company incurred a net loss of Rs 1,521 crore vs a profit of Rs 173 crore a year ago.

The company's gross refining margin, the difference between price of crude oil and the refined product, was a (-)$4.15 per barrel, which means the company is losing $4.15 per barrel on refining. This is against $3.72 per barrel margin it got a year ago, CNBC-TV18 reported.

Reuters

Its gross turnover was Rs 13,470 crore compared with Rs 14,520 crore a year ago.

MRPL also incurred a foreign exchange loss of Rs 649 crore, wider than Rs 83 crore a year ago.

At 3 p.m, the stock was at Rs 53.80, down 5.20 percent.


Updated Date: Dec 20, 2014 18:58 PM

Also Watch

It's A Wrap: Omerta star Rajkummar Rao in conversation with Parul Sharma
  • Thursday, April 26, 2018 In the Kanjarbhat community, a campaign against 'virginity tests' is slowly gaining ground
  • Thursday, April 19, 2018 Watch: National-level skater and coach Dhwanit Rele trains and nurtures budding athletes
  • Monday, May 14, 2018 FOMO Episode 1: Google Assistant, This is America, Sonam's wedding & Global Warming
  • Saturday, May 19, 2018 Social Media Star: Rajkummar Rao and Bhuvan Bam open up about selfie culture, online trolls

Also See