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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Mandya: The Deputy Superintendent of Police of Nagamangala town in Mandya district has been suspended for "negligence and dereliction of duty" in connection with the clashes that broke out between two groups during a Lord Ganesh idol procession, police said on Friday.

This is the second suspension of a police officer over the clashes on September 11 following which mobs went on a rampage targeting several shops and vehicles leading to tension here.

The situation in the town has since returned to normalcy and most of the shops have started operating. However, adequate security forces continued to be stationed here as a precautionary measure, according to police.

Sumeeth A R, DySP (Nagamangala), was suspended on Thursday for negligence and dereliction of duty, Mandya Superintendent of Police Mallikarjun Baldandi told PTI.

"He (Sumeeth) was not present at the spot nor was he at the police headquarters when the incident occurred. He arrived late at the spot despite the sensitive nature of events," he said.

Earlier, Police Inspector Ashok Kumar posted at Nagamangala town police station was suspended for dereliction of duty in connection with the violence.

A total of 55 people have been arrested in connection with the incident.

According to police, an argument broke out between two groups, when the Ganesh idol procession by devotees from Badarikoppalu village reached a place of worship on September 11, and some miscreants hurled stones, which escalated the situation.

The police had used mild force to disperse the crowd to control the situation.

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News Network
September 12,2024

Mangaluru: Mayor Sudheer Shetty Kannur said that as a part of the International Day of Democracy, the Mangaluru City Corporation (MCC) will hold a 23-km long human chain and plant 1000 saplings in the Bengre area on September 15.

The human chain will be formed from Pavanje bridge to the border of Arkula, which will pass through Nanthoor Junction- Kannur Junction. The event is organised with the objective of creating awareness among the public, particularly the youth, about the significance of democracy. Around 10,000 people, particularly students, will participate in forming the human chain in the city limits, he told media persons.

He said Democratic system in India is a model to the world and we should be grateful to Dr B R Ambedkar for giving the country a beautiful constitution. To make the people, particularly the youth, aware of the Constitution and its preamble, the state government has chalked out a plan to form a mega human chain from Bidar to Chamrajnagar. As a part of it, the programme will be held in Mangaluru. Students from various schools, colleges, various organisations, NGOs should actively participate to make the event a grand success.”

The Mayor said as a part of the celebrations, an arch will be built at Pavanje bridge and Kannur Junction. The Zonal office at Surathkal will be decorated with tri colour along with KPC Circle, Nanthoor Junction, Padil Junction. The main programme will be held at Kadri Circle near Circuit House in Mangaluru, which will be attended by DK MP Capt Brijesh Chowta, MLAs D Vedavyasa Kamath, Dr Y Bharath Shetty, DC Mullai Muhilan MP and others. Flags will be placed for every 100 metre of the human chain stretch. The participants can click their photos and upload it through https://democracydaykarnataka.in/ to collect a certificate, added the mayor. 

The human chain will be held from Pavanje to Mukka checkpost, Mukka chepost to Mukka Junction, Mukka Junction to NITK gate, NITK gate to Tadambail Junction, Tadambail Junction to Hotel Suraj, Hotel Suraj to Govinda Dasa College, Govinda Dasa College to Kordabbu Daivasthana, Hosabettu, Kordabbu Daivasthana to Honnakatte Junction, Kulai to APMC, Baikampady, Hotel Vishwasagar to Mangaluru traffic police check post , Mangaluru traffic police check post to Panambur circle, Panambur Circle to NMPA railway track, MCF to Kuloor bridge, Kuloor bridge to Gold Finch ground, Gold Finch ground to Kottara Chowki, Kottara Chowki to BMS Hotel, BMS Hotel to SKS apartment, KPT to Saptagiri petrol bunk, Nanthoor Circle to Kaikamba, Maroli Jodukatte till Padil Circle, Padil to First Neuro Hospital – Kannur Junction, Adyar Katte to Sahyadri College, Sahyadri College to Expert Cross (Valacchil), Express Cross to Arkula border.

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News Network
September 24,2024

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Mangaluru, Sept 24: A blanket of gloom descended over Dakshina Kannada and Udupi as heavy rains battered the coastal Karnataka districts on Tuesday. Substantial rainfall has been drenching the region since Monday, intensifying as the day progressed.

In Dakshina Kannada, torrential downpours began early Tuesday, followed by overcast skies and humid conditions. 

The showers persisted intermittently through the afternoon, with areas like Beltangady experiencing moderate rainfall, while Puttur and Bellare bore the brunt of heavier storms. 

Overnight showers were reported in Bantwal, and Mangaluru city, along with its surrounding rural areas, witnessed a steady increase in rainfall, peaking by the evening.

After a brief respite, the return of intense rainfall has brought a welcome drop in temperatures. In Udupi, Karkala, Udupi city, Kundapur, and Hebri taluks all faced substantial rains throughout the day, continuing from late Sunday night.

The Indian Meteorological Department (IMD) has issued a red alert for the coastal districts, predicting more heavy rainfall in the coming hours. 

A yellow alert has been placed for Wednesday, signaling the likelihood of additional downpours. Fishermen have been cautioned to remain vigilant, as the possibility of strong winds looms over the coastal waters.

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