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Mangaluru: MRPL suffers loss of Rs 2,708 crore during financial year

  •   Thu, Jun 11 2020 01:24:30 PM

Daijiworld Media Network - Mangaluru (SP)

Mangaluru, Jun 11: During the recently ended financial year, Mangalore Refinery and Petrochemicals Ltd (MRPL) suffered a loss of Rs 2,708 crore. In the fourth quarter, its losses stood at Rs 1,596 crore, the company stated.

The main reason attributed for this situation is the sluggish demand for crude oil and petroleum products the world over. Refinery activity continued even during the lockdown period as petroleum products fall under essential goods, but as the people used less vehicles, the sale had slumped steeply.

During the year, the company earned a revenue of Rs 60,952 crore as against the previous year's figure of Rs 72,315 crore. In the fourth quarter, its revenue reached Rs 17,545 crore. During this quarter in the previous year, it had earned a revenue of Rs 17,750 crore. The company expects the sales and demand to stabilize and go up after the lockdown is lifted, a release from the company said.
  

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Comment on this article

  • VENUGOPAL, Mngaloare

    Wed, Jun 17 2020

    first of all MRPL company has to reduce the salary of the Officer, they may get more than One lakh Rupess as a salary without hard work, People like us surviving with Rs, 20,000 salary

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Title: Mangaluru: MRPL suffers loss of Rs 2,708 crore during financial year



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