The company’s throughput for Q4 FY24 was 4.60 MMT as against 4.41 MMT in Q4 FY23, up 4.30% YoY.
Gross refining margin (GRM) reduced to $11.35 per barrel in Q4 FY 2023-24 as compared with $15.12 per barrel in Q4 FY 2022-23.
EBIDTA for the fourth quarter of FY24 stood at Rs 2,361 crore, down 33.97% compared with Rs 3,576 crore posted in the same quarter last year.
Profit before exceptional items and tax declined by 39.85% year on year to Rs 1,774.21 crore in the quarter ended 31 March 2024. The company reported exceptional items of Rs 8.29 crore in Q4 FY24.
Meanwhile, the company’s board has declared a final dividend of Rs 2 per equity share for the financial Year 2023-24.The final dividend would be paid within 30 days from the date of declaration at the AGM.
Mangalore Refinery and Petrochemicals, a subsidiary of ONGC, is Category 1 Miniratna Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum & Natural Gas. The refinery has flexibility to process crudes of various API, delivering a variety of quality products. As on 31 December 2023, Oil and Natural Gas Corporation (ONGC) held 71.63% stake while Hindustan Petroleum Corporation (HPCL) held 16.96% stake in the company.
The scrip fell 1% to Rs 251.40 on Friday, 3 May 2024.