MRPL’s net dips 58% at Rs 253 cr

Mangalore Refinery and Petrochemicals Ltd (MRPL) —the refining arm of state-owned ONGC — recorded a decline in its net profit by 58.4 per cent to Rs 253 crore for the quarter ended March 31, 2010, compared with the same period last year.

Mangalore Refinery and Petrochemicals Ltd (MRPL) —the refining arm of state-owned ONGC — recorded a decline in its net profit by 58.4 per cent to Rs 253 crore for the quarter ended March 31, 2010, compared with the same period last year.

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The company posted a net profit of Rs 608 crore for the January-March quarter of 2009.

Income from operations rose to Rs 9,723 crore in January-March, 2010, from Rs 7,630 crore in the same period of the previous fiscal.

The board of the company has proposed a dividend of Rs 1.2 per share of the face value Rs 10 for shareholders.

For the year ended March 31, 2010, the company posted a net profit of Rs 1,112 crore, down 6.7 per cent as against the previous fiscal year.