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MRPL posts INR 248-Cr loss in Q3

Mangalore Refinery and Petrochemicals Ltd (MRPL) recorded a loss of INR 248 crore in the third quarter of 2013-14 against a loss of INR 360 crore in the corresponding period of 2012-13. A press release by the company attributed this loss to the delay in the progressive commissioning schedule of the third phase expansion of MRPL.

There was net foreign exchange gain of INR 189 crore during the third quarter of 2013-14. However, there was a net foreign exchange loss of INR 257 crore in the third quarter of 2012-13. The gross refining margin (GRM) of the refinery was in the negative range during the Q3 of 2013-14.

Source-On Request