Daijiworld Media Network - Mangaluru (SP)
Mangaluru, Aug 10: Mangalore Refinery and Petrochemicals Ltd (MRPL) has earned a net profit of Rs 406 crore during the first quarter of financial year 2015-16. This was announced by MRPL chairman, D K Sarraf, at a press conference held here on Sunday August 9.
He said that this impressive performance could be possible because of recovery of markets and profit earned out of the production from the third phase unit.
'Our company registered a total turnover of Rs 13,706 crore. 1.03 million metric tonnes of produce valued at Rs 3,352 crore was produced during this period, and 3.89 million metric tonnes of the product underwent refinery process,' he explained. He added that the third phase exansion plan was successfully completed with the polypropylene unit with a capacity of 440 kilo tonnes per annum capacity beginning to work on June 18 this year.
Sarraf explained that MRPL has won Top Premier Trading House Award being given by the western region of Federation of Indian Export Organization on July 22. He further said that the company plans to open 100 retail outlets in the state and that a team has been working out details, rules and regulations for this scheme.
Managing director, H Kumar, directors, Vishnu Agarwal and M Venkatesh, were present at the press conference.