NEW DELHI, MAY 4   :     Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary company of ONGC, on Saturday reported more than 40 percent fall in net profit at Rs 1,137 Crore during January-March or Q4 of fiscal year 2023-24 compared to Rs 1908 crore in the same period in 2022-23.

Q4 revenue also fell marginally to Rs 29,190 Crore in Q4 of 2023-24 compared to Rs 29,401 Crore in the previous financial year.

On January 22, 2024, the Company had declared an interim dividend of Rs 1.00 per share (10 per cent) which has since been paid. In addition to above for the year ended March 31, 2024, the Board of Directors has proposed a final dividend of Rs 2 per share (20 per cent) be paid on fully paid-up equity shares.

This final dividend shall be subject to approval by shareholders at the ensuing Annual General Meeting, the company said in a statement.

Full year (2023-24) net profit stood at Rs 3,596 Crore up from Rs 2,638 Crore in 2022-23, while revenue from operations were Rs 1,05,223 Crore in 2023-24 compared to Rs 1,24,736 Crore in 2022-23, the company said.(UNI)