MRPL Q1 net drops 67% on low crude oil price

摘要

Mangalore Refinery and Petrochemicals Ltd. (MRPL) has recorded a net profit of Rs. 234.01-crore in the first quarter of 2017-18 against a net profit of Rs. 718.49-crore in the corresponding period of previous fiscal, registering a decline of 67.43 per cent. The company attributed the decrease in profit to the reduction in prices of crude oil and finished products. This has resulted in inventory loss of Rs. 438-crore during the quarter. MRPL had inventory gain of Rs. 859-crore in Q1 of 2016-17.