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MRPL, HPCL, Adlabs & Ratnamani Q2 results

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BS Reporter New Delhi
Last Updated : Feb 05 2013 | 2:21 AM IST
 
Mangalore Refinery and Petrochemicals (MRPL), a subsidiary of Oil and Natural Gas Corporation, has reported a huge increase in net profit to Rs 331.74 crore for the quarter ended September 30, 2007, as compared with Rs 9.29 crore in the corresponding period a year ago. MRPL Managing Director R Rajamani listed various reasons for this increase.
 
"In the second quarter last year we gave discounts of about Rs 75 crore on LPG and kerosene to oil marketing companies, whereas in this quarter the discounts have been stopped," Rajamani said.
 
He explained that in the July-September quarter last year petroleum product prices had crashed in the world markets and this had result in reduced refining margins of only $1.97 a barrel for the company, which operates a 9.69 million tonne per annum refinery in Mangalore. Whereas in this quarter the margins have been much better at $6.5 a barrel.
 
HPCL profit down 30% at Rs 853 crore
 
Hindustan Petroleum Corporation, the country's second largest crude oil refiner and marketer of petroleum products, has registered a 30.19 per cent dip in net profit to Rs 853.03 crore for the quarter ended September 30, 2007 as compared with Rs 1,221.98 crore in the corresponding quarter last year.
 
Lower profit was due to the lower value of oil bonds and lower contributions from upstream units. Oil bonds accounted for Rs 2,355 crore this quarter as against Rs 2,900 crore in the previous corresponding period and the company received Rs 1,838 from ONGC and GAIL for sale of fuels at subsidised prices as against Rs 2,455 crore in the corresponding period last year.
 
Net sales in July-September stood at Rs 24,234.44 crore, marginally lower than the Rs 24,367.46 crore in the year-ago period.
 
Adlabs Q2 net dips to Rs 20.3 cr
 
Adlabs Films, a Reliance Anil Dhirubhai Ambani Group company, has posted a slight dip in net profit at Rs 20.30 crore for the second quarter ended September 30, 2007,as against Rs 20.46 crore in the corresponding period of 2006. Total income during the period stood at Rs 158.03 crore from Rs 59.59 crore.
 
Ratnamani bottomline jumps 60%
 
Engineering firm Ratnamani Metals & Tubes has posted a 59.92 per cent increase in net profit at Rs 26.82 crore in second quarter ended September 30, 2007, as against Rs 16.77 crore in the corresponding previous quarter.
 
Total income rose 49 per cent to Rs 215.10 crore from Rs 144.17 crore in the quarter last year. The company's present order book position stands at Rs 386 crore.

 
 

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First Published: Oct 30 2007 | 12:00 AM IST

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