Mangalore Refine posts Q3 net profit of Rs 968.98 cr
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The company reported standalone net profit during the quarter stood at Rs 968.98 crore compared to net loss of Rs 71.01 crore in the previous year quarter. Net revenue of the company rose two fold by 217.39 per cent at Rs 25,237.57 crore in October-December quarter of this fiscal as against Rs 7,951.53 crore in the corresponding period last year. During October-December quarter, operating expenses increased by 200.11 per cent to Rs 23,423.34 crore from Rs 7,804.90 crore in year ago period. Other Income grew by 43.37 per cent at Rs 52.53 crore versus (Dec'20 Rs 36.64 crore). Operating Profit surged by 1137.28 per cent to Rs 1,814.23 crore as against Rs 146.63 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 290.76 per cent in December quarter. Interest grew by 158.54 per cent y-o-y to Rs 161.28 crore, while Taxation increased by 1677.20 per cent at Rs 523.63 crore (Dec'20 Rs -33.20 crore).
