Mangalore Refine posts Q1 net profit of Rs 2,707.51 cr
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The company reported standalone net profit during the quarter stood at Rs 2,707.51 crore compared to net loss of Rs 86.30 crore in the previous year quarter. Net revenue of the company rose triple digit by 137.09 per cent at Rs 35,915.46 crore in April-June quarter of this fiscal as against Rs 15,148.36 crore in the corresponding period last year. During April-June quarter, operating expenses increased by 109.53 per cent to Rs 31,201.50 crore from Rs 14,890.90 crore in year ago period.
Other Income grew by 74.57 per cent at Rs 36.73 crore versus (Jun'21 Rs 21.04 crore). Operating Profit surged by 1730.95 per cent to Rs 4,713.96 crore as against Rs 257.46 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 672.35 per cent in June quarter. Interest grew by 52.38 per cent y-o-y to Rs 302.16 crore, while Taxation increased by 3202.47 per cent at Rs 1,445.44 crore (Jun'21 Rs -46.59 crore).
