Mangalore Refinery and Petrochemicals Limited (MRPL) announced its financial results for Q3 FY25, revealing mixed performance with a sequential decline in revenue but a significant year-on-year improvement in profitability.
Key Financial Metrics (₹ in Crores):
- Revenue from Operations:
- Q3 FY25: ₹25,600.78
- QoQ: Decline of 7.38% from ₹27,785.92 in Q2 FY25.
- YoY: Decline of 9.74% from ₹28,364.37 in Q3 FY24.
- Net Profit:
- Q3 FY25: ₹309.30
- QoQ: Significant improvement from a loss of ₹(696.94) in Q2 FY25.
- YoY: Decline of 21.14% from ₹392.08 in Q3 FY24.
- Total Expenses:
- Q3 FY25: ₹25,164.75
- QoQ: Decline of 15.79% from ₹29,886.92 in Q2 FY25.
- YoY: Decline of 9.52% from ₹27,812.80 in Q3 FY24.
Performance Highlights:
- Sequential Revenue Decline: The reduction in revenue on a QoQ basis reflects lower product realizations and decreased operational throughput.
- Expense Management: MRPL effectively controlled expenses, with significant reductions in inventory changes and other operational costs, leading to a sequential improvement in net profit.
- Profitability Recovery:
- After reporting a loss in the previous quarter, MRPL posted a profit of ₹309.30 crore, showcasing a rebound in operational efficiency.
- However, the YoY decline in net profit highlights the impact of volatile global crude oil prices and refining margins.
- Exceptional Items and Share of JV: The share of profits from joint ventures contributed ₹5.11 crore to the bottom line in Q3 FY25, compared to ₹7.88 crore in Q2 FY25.
Conclusion:
MRPL’s Q3 FY25 results reflect operational resilience despite challenges in revenue.
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