New Delhi, April 25: Mangalore Refinery & Petrochemicals Ltd (MRPL) has posted a net profit of Rs 850 crore for the financial year ended March 31, 2005, representing an 85 per cent jump over the corresponding figure of Rs 459 crore for the previous year.

The ONGC subsidiary has recorded a turnover of Rs 20,650 crore, up 64 per cent from Rs 12,612 crore in 2003-04.

MRPL processed 11.85 million metric tonnes of crude during the year, which is 18 per cent higher than its 10.05 mt throughput for 2003-04. This enabled the company to record a 122 per cent capacity utilisation over the nameplate capacity of 9.69 mt per year.

During 2004-05, MRPL?s exports were valued at Rs. 6, 186 crore, which is 38 per cent higher than Rs. 4, 477 crore worth of exports in the previous year.

MRPL has signed a term contact on April 9 with Ceylon Petroleum Corporation for exporting approximately 3,20,000 tonnes of petrol, diesel and aviation turbine fuel against $150 million credit extended by the Exim Bank.