Pics: Spoorthi Ullal
Daijiworld Media Network - Mangaluru (ANK)
Mangaluru, Aug 20: “Mangalore Refinery Petroleum Limited earned a profit of Rs 3,644 crore in the financial year 2016-17, against Rs 1,148 crore during 2015-16,” informed D K Sarraf chairman of MRPL.
Briefing the annual report of 2016-17 here at MRPL office on Saturday August 19, he said, “The board has recommended dividend of Rs 6 per equity share of Rs 10 each which is highest ever in MRPL history. During the year 2016-17, our company achieved turnover of Rs 59,415 crore against a turnover of Rs 50,864 crore during 2015-16. The highest ever crude oil was 16.27 MMT during the year 2016-17 against the previous highest of 15.69 MMT during 2015-16 which suggests an increase of 3.69%. This could be achieved by optimal crude mix, better equipment, reliability and commendable operational discipline.”
“The highest ever gross refining margin of 7.75 barrel during 2016-17 was recorded as against 5.20 barrel during 2015-16. Market capitalisation of the company has grown three and a half times during the last four years on July 17, 2017. The market capitalisation was Rs 21,556 crore as against Rs 6073 crore on 17th July 2013. The share price of the company was around Rs 50 in the year 2014 which has now scaled up to Rs 118.10 as of June 30th, 2017,” he informed.
“We are also exporting our product to Mauritius since 2006 and the contract has been given on a nomination basis. They prefer our product for our quality, price and services,” he addded.
Managing director H Kumar, director Refinery M Venkatesh and director finance A K Sahoo were present.