The Board of Directors of Mangalore Refinery and Petrochemicals Limited, a subsidiary Company of ONGC and a Category I Mini Ratna, approved its un-audited results for the second quarter of Financial Year 2014-15. The Company recorded lower physical performance during the Q2 of FY14-15. The company has posted loss mainly due to higher fuel consumption on account of stabilization of newly added units and also higher inventory loss. The Company posted a negative GRM of 4.04$/ bbl in Q2 FY 14-15 as against positive GRM of 5.04 $/bbl in Q2 FY-13-14.

The summarized performance results of Q2FY14-15 and H1 FY14-15 compared to the corresponding period is as follows:

Report on MRPL Completes Phase III expansion and up gradation project