Date:30/10/2008 URL: http://www.thehindu.com/2008/10/30/stories/2008103056631900.htm

Business - Briefly

MRPL profit dips in second quarter

NEW DELHI: Mangalore Refinery and Petrochemicals (MRPL) has reported a 92.5 per cent drop in its net profit at Rs. 24.92 crore for the second quarter ended September 30 against Rs. 331.74 crore in the same quarter last fiscal, mainly due to inventory loss of about Rs. 646 crore on account of sharp reduction in crude oil and petroleum prices from August 2008 onwards. However, total income rose by 75.89 per cent to Rs. 13,464.88 crore from Rs. 7,655.29 crore. — Special Correspondent