Mon Jan 20 14:36:17 UTC 2025: ## Mangalore Refinery Posts Lower Q3 Profit Despite Record Crude Processing
**Mangalore, January 20, 2025** – Mangalore Refinery and Petrochemicals Ltd. (MRPL) today announced a net profit of ₹304 crore for the third quarter of fiscal year 2024-25, a decrease from ₹387 crore in the same period last year. While the refinery achieved record-high crude processing levels, revenue from operations dipped to ₹25,601 crore compared to ₹28,364 crore in Q3 of 2023-24.
Despite the lower profit, MRPL highlighted significant achievements. The refinery processed a record 4,541.1 thousand metric tonnes (TMT) of crude oil, exceeding the previous high of 4,459.1 TMT set in Q3 of 2022-23. Net crude processed also reached a record 4,601 TMT. Furthermore, the gross refining margin improved to US$6.21 per barrel, up from US$5 per barrel in the same quarter last year. The company also reported record production of Aviation Turbine Fuel (ATF) at 763.1 TMT.
Importantly, MRPL processed Merey-16 Crude from Venezuela for the first time in November 2024. The company’s board of directors approved the reviewed financial results on Monday.
First Piper 