InvestorQ : Why have the profits of MRPL gone up so sharply in March 2022 quarter?
Sam Eswaran made post

Why have the profits of MRPL gone up so sharply in March 2022 quarter?

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Tisha Malhotra answered.
2 days ago
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I will come to your profit question, but first let me explain the top line story. For Q4FY22, reported 35.76% growth in sales revenues at Rs28,228 crore. FY22 full year revenues were higher 69.4% at Rs86,064 crore. The growth in sales revenues came on the back of crude prices doubling on a yoy basis. This led to improved gross refining margins plus better inventory translation gains in the quarter. Net cash from operations moved from negative to a positive Rs4,692 crore due to higher cash profits and rise in trade payables.

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%


  

Net profit for Q4FY22 were up 11-fold at Rs3,008 crore with higher gross refining margins (GRMs) and higher gains from inventory translation on account of the crude rally. MRPL saw a sharp improvement in solvency rations during the quarter. Net margins were 10.66% in Q4FY22 quarter compared to 1.29% in Q4FY21 and also much better than 2.35% in Q3FY22.

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