Results of the first quarter announced: Is MRPL facing a loss?

Results of the first quarter announced: Is MRPL facing a loss?

August 5: MRPL and ONGC Group of Companies chairman Shashi Shanker announces the results of the first quarter. A net loss of Rs 500 crore and negative GRM (gross refining margin) at 0.42 $/bbl has been declared. He mentioned that the total loss before the tax was Rs 763 crore,” and the gross revenue from operations was Rs 16,583 crore and profit before the tax was Rs 562 crore.
MRPL Managing Director M Venkatesh mentioned that loss was due to acute water scarcity has disrupted the plant’s operations for a record 45 days. The USA’s sanctions against Iran also had an impact on its revenue, he said.
Venkatesh said that precautionary steps have been taken to tackle another harsh summer. A temporary containerised desalination plant will be operational from March onwards. Besides the company also is keen on increasing its intake of treated sewage water up to 5 MGD, he said.

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