MRPL nets Rs. 1,177 crore profit, registers highest-ever turnover

August 27, 2011

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Mangalore, August 27: The Mangalore Refinery and Petrochemicals Limited (MRPL) has registered a net profit of Rs 1,177 crore, marginally higher against Rs 1,112 crore previous year, according to its chairman A?K?Hazarika

The company has registered highest ever turnover at Rs 43,800 crore with highest ever refinery crude thruput at 12.64 MMT, he told reporters after the 23rd annual general meeting at MRPL premises near here on Saturday.

He said MRPL has kept its business plan ready to open 122 new outlets in the first phase in the next one to two years with an estimated investment outlay of Rs 87 crore, provided the market condition is stable and conducive for economical viability of the initiative, said MRPL?Chairman A?K?Hazarika.

He said though the company has license to open 500 retail outlets, considering the under recoveries in diesel (HSD) sale, it is continuing with only one outlet (in Hubli) to avoid losses. “Another outlet at Kadri Hills in Mangalore was supposed to come up, but is pending due to litigation,” he said.

Stating that MRPL continues to sell the free products, viz., bitumen, furnace oil, naphtha, mixed xylene and sulphur directly to end consumers, Hazarika said the company has 63 per cent and 93 per cent market share in sale of bitumen and suphur respectively in Karnataka. The turnover of such direct sales was Rs 2,271 crore during the year, he added.

To a query on supply of ATF, he said the MRPL supplies ATF to Mangalore, Bangalore, Hyderabad, Kozhikode and Ahmedabad airports and plans are on the anvil to supply ATF to Mumbai as well as Delhi too.

Stating that the progress of the Single Point Mooring (SPM) project as on August 15, 2011, was 32.5 per cent, Hazarika said the project is expected to be complete by May 2012.

“The company has already obtained environmental clearance from Ministry of Environment and Forests, Government of India, for the project,”?he said.

The SPM project when completed can receive crude oil from Very Large Crude Carrier (VLCC), through a pipeline to be laid in the sea, about 16 kms from the shore of New Mangalore Port.

To a query on the opposition by local fishermen to the project, MRPL?Managing Director U?K?Basu said that SPM?is not a new phenomenon in India and the pipes will be burried inside the sea and will not cause any harm to fishing activities. “The SPM will be of the size of a room, about 16 kms away from the shore,” he said and added that all the orders for the project have been placed and the works are expected to begin in November, soon after the monsoon.

The Board of Directors of MRPL recommended final dividend payout of Rs 1.20 per share of Rs 10 (12 per cent), the same as last year, he informed.

MRPL?Director (Technical) P?P?Upadhya and Director (Finance) Vishnu Agarwal among others were present.

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News Network
September 20,2024

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Mangaluru, Sep 20: The bye-election for the MLC seat, vacated by Kota Srinivas Poojary after his election as an MP, will take place on October 21. The election covers 6,037 voters from 392 local bodies across Dakshina Kannada and Udupi districts. Dakshina Kannada Deputy Commissioner and election officer Mullai Muhilan provided details at a press conference held at the DC office on Thursday.

Key Election Dates:

Nomination Period: September 26 to October 3
Verification of Nominations: October 4
Last Date for Withdrawal of Nominations: October 7
Election Day: October 21 (Polling from 8 AM to 4 PM)
Vote Counting: October 24

Code of Conduct:

The model code of conduct came into effect on September 19 and will remain in place until October 28 in both Dakshina Kannada and Udupi districts. During this period, government development projects cannot be announced, and foundation stone-laying ceremonies are prohibited. Political banners and hoardings are also banned. Government officials are restricted from participating in public programs or meetings. The Election Commission will oversee all political events, and the regulations that apply to MP and MLA elections will also govern this MLC bye-election.

Election Management:

Additional DCs of Dakshina Kannada and Udupi will assist as election officers. While no election-related check posts will be set up, flying squads and video surveillance teams will monitor compliance. Political party buntings and hoardings will be removed immediately.

Voter and Polling Information:

Dakshina Kannada and Udupi districts fall under the Dakshina Kannada local body authority. In this bye-election, eligible voters include members of gram panchayats, city corporations, city municipalities, town municipalities, town panchayats, as well as MLAs, MLCs, and MPs.

Dakshina Kannada: 3,551 voters, 234 polling booths
Udupi: 2,486 voters, 158 polling booths

Officials Present:

The press conference was attended by ZP CEO Dr. Anand, Additional DC Dr. Santhosh Kumar, Police Commissioner Anupam Agarwal, SP Yatheesh, MCC Commissioner Anand C L, and Assistant Commissioner Girish Nandan.

This election marks a significant political event for both districts, with voters from various local bodies participating in the process.

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September 16,2024

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Mangaluru, Sept 16: In a heartwarming display of communal unity, members of Hindu and Christian communities celebrated Eid Milad—marking the birth of Prophet Mohammed—by distributing sweets and refreshments to their Muslim neighbors in Dakshina Kannada.

In Boliyar, near Konaje on the outskirts of Mangaluru, members of the local organization Geleyara Balaga surprised participants in the Eid Milad procession with an offering of sweets and cold drinks. 

The gesture of goodwill was led by Manoj, Sheena Poojary, Denis Lily, Sanat, Lokanath, Satish, Praveen, Madhu, and Valentine. Abdul Rahman, the khateeb of Boliyar Juma Masjid, expressed heartfelt gratitude for this act of kindness.

In a similar display of solidarity, a group of Hindus, draped in saffron shawls, distributed sweets and drinks to those partaking in the Eid Milad procession at Mani village, Bantwal taluk.

These acts of generosity highlighted the spirit of harmony and togetherness among different communities, celebrating the true essence of the festival.

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September 24,2024

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The Karnataka High Court on Tuesday dismissed the petition filed by Chief Minister Siddaramaiah against Governor Thawarchand Gehlot's decision to sanction the complaint and investigation against him in the alleged Mysore Urban Development Authority (MUDA) scam case.

Justice M Nagaprasanna said the facts narrated in the petition would undoubtedly require an investigation.

The court has also said that the Governor's order approving sanction to investigate against Siddaramaiah under section 17A of the Prevention of Corruption Act does not suffer from application of mind, instead has abundance of application of mind.

Meanwhile, the court rejected the request made by senior advocate Abhishek Singhvi to stay the order of the court. The court has vacated the interim order passed on August 19. In the interim order the trial court was directed not to take any precipitative action against Siddaramaiah. On August 17, Governor had approved sanction under section 17 A  of the Prevention of Corruption Act and Section 218 of Bharatiya Nagarik Suraksha Sanhita ( BNSS), citing three applications.

The court said the private complainants were justified in registering the complaint and seeking approval from the governor.

Insofar as private complainants seeking sanction under section 17A, the court said the provision nowhere requires only a police officer to seek sanction from a competent authority. The court further said it is in fact the duty of the private complainants to seek such approval.

Earlier, The High Court had completed its hearing in the case on September 12, and reserved its orders. It had also directed a special court in Bengaluru to defer further proceedings and not to take any precipitative action against the Chief Minister.

The case pertains to allegations that compensatory sites were allotted to Siddaramaiah's wife B M Parvathi in an upmarket area in Mysuru that had higher property value as compared to the location of her land that had been "acquired" by MUDA.

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