US EditionMangalore Refinery Q4 Results: Net Profit Drops 68% On Lower Margins
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Mangalore Refinery Q4 Results: Net Profit Drops 68% On Lower Margins
Mangalore Refinery and Petrochemicals Ltd. on Saturday reported a 68% drop in its March quarter net profit on the back of a fall in refining margins. Net profit was Rs 363 crore in the January-March quarter compared with Rs 1,137 crore earnings in the same period a year back, the company said in a statement.The firm, which is a subsidiary of state-owned Oil and Natural Gas Corp., earned $6.23 on turning every barrel of crude oil into fuel in the…
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