MRPL Ltd Q4FY22 PAT jumps 11-fold to Rs3,008 crore on higher GRMs and inventory translation gains

12 May 2022 , 06:53 PM

MRPL Ltd reported 35.76% growth in sales revenues yoy for the Q4FY22 quarter on consolidated basis at Rs28,228 crore. On a sequential basis, revenues were higher for the quarter by 12.81%.

For the full year FY22, the revenues were higher by 69.4% at Rs86,064 crore. For Q4FY22, the top line grew largely on the back of higher crude prices, which almost doubled on a yoy basis.

This improved the gross refining margins and also improved the inventory translation gains of the company. Net cash from operations turned around to Rs4,692 crore as higher cash profits combined with a sharp rise in trade payables to roost.

The consolidated net profit for Q4FY22 was up 11-fold at Rs3,008 crore while it was up on a sequential basis by 5-fold.

The spike in profits was an outcome of higher GRMs and higher gains from inventory translation amidst the crude rally. Net margins stood at 10.66% in Q4FY22 quarter compared to 1.29% in Q4FY21.

NPM was higher sequentially against 2.35% in Q3FY22. The company saw a sharp improvement in its solvency rations during the quarter. MRPL is a subsidiary of ONGC.

Financial highlights for Mar-22 compared yoy and sequentially

	MRPL Ltd
Rs in Crore	Mar-22	Mar-21	YOY	Dec-21	QOQ
Total Income (Rs cr)	₹ 28,228	₹ 20,793	35.76%	₹ 25,023	12.81%
Net Profit (Rs cr)	₹ 3,008	₹ 269	1019.83%	₹ 589	410.69%
Diluted EPS (Rs)	₹ 17.17	₹ 1.53		₹ 3.36
Net Margins	10.66%	1.29%		2.35%