MRPL posts Q4FY22 results

News: Revenue increased 35.8% YoY to Rs. 28227.8 crore in Q4FY22. Crude throughput increased 8.7% YoY to 4.4 MMT during the quarter. EBITDA stood at Rs. 2941 crore, up 247.7 crore leqding to PAT of Rs. 3008.2 crore, up 8x YoY

Views: We await details on GRM to judge operational performance. The company is likely to have benefitted from higher product cracks and inventory gains as per our understanding. MRPL's subsidiary, ONGC Mangalore Petrochemicals has been amalgamated with MRPL. Global refining scenarion continues to remain favourable for Indian refineries as transport fuel cracks are trading at elevated level

Impact: Positive