Mangalore Refinery and Petrochemicals Limited (MRPL) has registered flat gross revenue from operations i.e. Rs. 17,545 crore in Q4 FY20 versus Rs. 17,550 crore in Q4 FY19. 

 

MRPL declared Net loss of Rs. 1,596 crore and negative GRM of 4.52 $/bbl. During the Fourth quarter of operation, the outbreak of COVID-19 pandemic globally and resultant lockdown in many countries, including India from March 25, 2020 has impacted the business of the company. Consequently lower demand for crude oil and petroleum products has impacted the prices and refining margin globally. Since the petroleum products are under essential services, the refining operations of the company continued during the lockdown period. Due to lock down there was reduction in sales for the company.

 

For FY20, MRPL declared net loss of Rs. 2,708 crore and negative GRM of 0.23 $/bbl. During the first quarter of operation, the refinery complex faced unprecedented water scarcity affecting plant operation nearly for a month and half. During second quarter of operation, the refinery complex has been affected by a minor landslide as an aftermath of the intensified monsoon in Dakshina Kannada District, hence as a precautionary measure, structured shutdown of the Phase-Ill process units of the refinery was taken from August 18, 2019 to access the condition of the facilities in the vicinity and for immediate stabilization.